The European Central Bank has stuck to its plans for keeping interest rates unchanged while steadily reducing its bond purchases this year, defying critics who say it should tighten monetary policy faster in response to record eurozone inflation.
The ECB said on Thursday its governing council had “confirmed the decisions taken at its monetary policy meeting last December”.
Holding firm on its plans to provide a sizeable stimulus this year, the ECB said its deposit rate would stay at a record low of minus 0.5 per cent and reiterated plans for “a step-by-step reduction in asset purchases” over the next nine months.
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