The European Central Bank (ECB) on Thursday left its benchmark interest rate unchanged at 0.25 percent as expected, after surprising markets with a rate cut last month.
It also kept its forecast for an economic contraction of 0.4 percent in the euro zone in 2013. For 2014, it expects growth of 1.1 percent, a slight improvement on the 1.0 percent seen in September. For 2015 it forecast growth of 1.5 percent.
At a press conference, ECB President Mario Draghi said that risks to its economic outlook remained on the downside. He also warned the euro zone could face a lengthy bout of low inflation.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015