European Central Bank holds interest rates steady at record low
Following the rate announcement, ECB president Mario Draghi stated in a news conference that slowing growth in China and other large developing economies as well as weak commodity prices put downward pressure on both economic growth and inflation.
Draghi also signaled that they are preparing to expand their €60 billion ($68.12 billion) per month bond-buying program and may even cut their already negative deposit rate, adding that policy makers may review stimulus measures when they next meet in December.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Turkey’s PP and PE markets propelled to a firm start to H2 despite vulnerable conditions
- Asian PVC sees V-shaped recovery in Q2, what will Q3 bring?
- Will capacity additions cast cloud on ethylene upsurge in Asia?
- US PVC offers in Egypt rise steadily but resistance grows in tandem
- PE buyers’ resistance grows in SEA; duty-free origins more competitive than Mid-East
- Polymer demand cools in Turkey: Is price correction ahead for PP, PE and PVC?
- China’s rising PET trend takes a pause, but longer-term outlook remains firm
- Uptrend in China’s import PP market continues but cautious mood returns
- Hikes in Asia July PVC offers baffle some buyers, further rally under discussion
- Optimism is rising on resurgent demand in European polymer markets