The European Central Bank declared that it would maintain an easy monetary policy stance “as long as needed” while the eurozone battles record unemployment and shrinking economic activity.
“Our monetary policy will remain accommodative as long as needed,” Mario Draghi, ECB president, said during his monthly press conference.
Barclays analysts said in a note: “This commitment to an ‘open-ended’ policy is something new, showing the ECB’s desire to see market rates remain close to zero despite the ongoing improvement in financial markets’ confidence towards the euro area.”
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