European Central Bank has raised its growth forecasts, and cut its inflation forecasts, after dropping pledge to lower rates if needed.
- Latest: Mario Draghi is facing the press RIGHT NOW
- ECB drops easing bias and leaves rates on hold
- UK was slowest-growing member of EU in Q1 2017
- Sterling volatility has soared today
- How the pound might react to the election result
Q: Did the ECB discuss when to start normalising monetary policy?
No, says Draghi…. but then he remembers that two council members made some observations about this issue.
#Draghi reports about mild exchanges in the GC about prospective changes in monetary policies, with two members raising the issue.
Q: Could a prolonged lower inflation rate force the ECB to change its forward guidance and raise its negative deposit rate before ending its QE programme? [currently it promises to complete the asset purchase scheme before tackling interest rates]
“No, no” says Draghi, emphatically.