The European Central Bank's January monthly bulletin released on Thursday showed that the bank's decision to keep interest rate at its record low of 0.25 percent on January was moving in line with the ECB's assessment after the latest developments. Regarding inflation, the Bulletin mentioned "the euro area economy may experience a prolonged period of low inflation, to be followed by a gradual upward movement towards inflation rates below, but close to, 2% later on." As for growth, the ECB still sees weakness in the economy and subdued monetary dynamics, but predicts recovery to take place in a gradual manner. " The Governing Council strongly emphasizes that it will maintain an accommodative monetary policy stance for as long as necessary and firmly reiterates the forward guidance that it continues to expect the key ECB interest rates to remain at present or lower levels for an extended period of time," the bulletin said.
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