ECB holds interest rates as economic uncertainty deepens
The European Central Bank announced Thursday that it will launch another program to help bank lending in the euro zone, for a third time.
The TLTROs are basically loans that the ECB provides at cheap rates to banks in the euro area. As a result, lenders are able to provide better credit conditions to customers, which in turn stimulates the real economy.The central bank's decision comes at a time when there are increasing concerns about growth in the region.
"The persistence of uncertainties in particular relating to geopolitical factors and the threat of protectionism is weighing on economic sentiment," ECB President Mario Draghi said in January, following a monetary policy meeting. The OECD also said Wednesday that it expects the euro area to grow at only 1 percent this year. Analysts are therefore expecting that the ECB will lower its growth forecast for the year at Thursday's meeting.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
European stocks seen lower amid trade uncertainty; ECB decision dueEuropean shares are poised to open lower Thursday taking cue from Asia and Wall Street.
Read more »
European shares pull back before ECB meetingEuropean shares retreated further from five-month highs on Thursday before a Eur...
Read more »
ECB seen taking tentative step to prop up ailing euro zoneThe European Central Bank will slash growth forecasts on Thursday and is likely ...
Read more »
ECB stimulus flows show why Draghi works so hardPresident Mario Draghi bought 2 tln euros of government bonds to boost the economy. But some proceeds were used to buy debt issued by non-euro zone companies, or left in bank deposits, the BIS says, diluting the impact. Though mainstream, money-printing remains an imprecise tool.
Read more »
Explainer: With Draghi's job eyed, ECB prepares for grand reshuffleEuro zone leaders will have to pick a new president to lead the European Central...
Read more »
Coeure best-suited for ECB presidency but Liikanen is favorite: economistsThe best qualified candidate is unlikely to become the European Central Bank&03...
Read more »
Euro awaits ECB, Canadian, Aussie dollars linger near two-month lowsMajor currencies kept to tight ranges on Thursday as traders focused their immed...
Read more »
Will a worsening outlook for inflation force the ECB to act?With growth slowing and investors pessimistic about inflation, it could be costly if the European Central Bank delays easing
Read more »
Euro zone's triple-A bond drought persists after ECB steps awayHigh-grade euro zone debt remains scarce even though the European Central Bank h...
Read more »
A day of reckoning for the ECB?The European Central Bank has downplayed a global slowdown for months, but it wi...
Read more »