ECB Chief Mario Draghi has been in the job for 5 years today, setting monetary policy across the Eurozone. So is it an anniversary to celebrate or commiserate?
The European Central Bank has left interest rates and massive support for the eurozone economy unchanged, despite sharp upgrades to the bank's growth forecasts. But inflation will remain stubbornly low, the ECB says.
Prices in Germany rose faster than expected in November, strengthening the case of the European Central Bank, which has argued that its economic stimulus will eventually lead to more growth and higher inflation.
The European Central Bank has announced a cut in its bond-buying economic stimulus program, taking its biggest step yet towards unwinding years of loose monetary policy introduced in the wake of the financial crisis.
There's every indication that the ECB will announce a reduction in the scale of its monthly purchases of government bonds when it meets this Thursday. In truth, it has little choice in the matter.
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