European Central Bank keeps interest rates unchanged
ECB president Mario Draghi stated that the central bank wants to gauge the effects of the quantitative easing program that the central bank began in March before making its next move. Previously, the central bank 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.
Some economists commented that the recent stimulus program has already had a noticeable effect on eurozone growth.
Meanwhile, inflation in the eurozone fell 0.1% on the year in March. The ECB expects inflation to be stable this year before increasing to 1.5% in 2016 and 1.8% in 2017.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Premium of HDPE over LLDPE hits 16-month high in Turkey
- Post-holiday hikes carry China homo-PP market to 1-year high
- Asia PVC markets see longest rising streak ever on extreme tightness
- Africa polymers: October offers higher amid reduced availability
- Stable to softer PE trend prevails in Europe amid soft demand, poor netbacks
- Turkey’s PP and PE markets move up, but riddled with uncertainties
- India, SEA PVC markets unlikely to take respite from bullish run for November
- Southeast Asia PET markets move sideways during China’s absence
- Egypt’s import PE market up on tight supply, domestic offers follow suit
- Will European PS, ABS track divergent paths for another month?