European Central Bank announces €1 trillion stimulus plan
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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