News Column

ECB set to maintain policy despite waning economy

July 3, 2014

PAN PYLAS, Associated Press



The European Central Bank is expected to keep interest rates unchanged when it concludes its monthly policy meeting Thursday despite further signs that the 18-country eurozone economy is losing momentum.

More interest will be on the ensuing press conference from Mario Draghi in light of last month's raft of measures from the ECB to shore up the recovery and prevent prices from falling.

Among the policies announced was a reduction in the ECB's main interest rate to 0.15 percent.

Figures released Thursday suggest the eurozone has started the summer on a fairly flat footing.

Retail sales across the region, according to Eurostat, were flat in May while the June purchasing managers' index a gauge of business activity from financial information company Markit edged back to a 6-month low.


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Source: Associated Press


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