ECB decided to to stay on hold with all key ineterest rates.
- main refinance rate 0.0% as prev
- marginal lending facility 0.25% as prev
- deposit facility rate -0.4% as prev
- QE asset purchase target EUR 80bln
- asset purchases will be 60bln from Apr- Dec
ECB’s Draghi statement
QE will run until the ECB see a sustained pickup in inflation numbers. QE to be cut to €60bn in Apr and run until Dec, at least and it can be adjusted and expanded at any time. ECB wants to see sustained inflation pickup.
GDP projections >
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2017 GDP 1.8% from 1.7% prior
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2018 1.7% from 1.6% prior
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2019 1.6% from 1.6% prior
CPI projections >
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2017 CPI 1.7% from 1.3% prior
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2018 1.6% from 1.5% prior
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2019 1.7% unchanged
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