FRANKFURT, Jumada II 1, 1437, Mar 10, 2016, SPA -- European Central Bank launched an unexpectedly broad array of stimulus measures Thursday aimed at boosting a modest economic recovery in the 19 countries that use the euro and nudging up dangerously low inflation, AP reported. The steps, which ranged from interest rate cuts to cheap loans to banks, included several measures many analysts hadn't anticipated, such as expanding its monthly bond-buying stimulus program to include corporate bonds. The ECB, the monetary authority for the euro countries, is struggling to raise inflation from a worryingly low annual rate of minus 0.2 percent toward its goal of just under 2 percent, considered healthiest for the economy. ECB President Mario Draghi said the bank's decisions at the meeting of its 25-member governing council were the best answer to recent questions about whether central banks were reaching the limits of what they can do. "We don't give up in our fight to bring inflation back to our objective," Draghi said. He added that the steps to increase bank lending would "reinforce the momentum of the euro area's economic recovery and accelerate the return of inflation to levels below, but close to, 2 percent." -- SPA 21:50 LOCAL TIME 18:50 GMT www.spa.gov.sa/w
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