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European Central Bank announces €1 trillion stimulus plan

by ChemOrbis Editorial Team - content@chemorbis.com
  • 23/01/2015 (11:08)
According to media reports, the European Central Bank (ECB) has announced a program to purchase €60 billion worth of public and private bonds per month starting from March and extending to September 2016, with the total value of the stimulus measures set to exceed €1 trillion.

ECB President Mario Draghi indicated that the Bank may extend its stimulus measures if inflation remains below the Bank’s target of just under 2%. Consumer prices in the eurozone declined by 0.2% in December, the first monthly decrease in over five years. Draghi added that further structural reforms would be necessary to restore prosperity to the European economy, which continues to struggle with limited growth rates.

In related news, the ECB elected to maintain its main lending rate at 0.05% at its most recent policy meeting on January 22.
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