By www.CentralBankNews.info The European Central Bank (ECB) said it will maintain an easy monetary policy stance for “as long as necessary” to boost economic growth and that it may even cut rates further.
The ECB, which earlier today held its benchmark refinancing rate steady at 0.5 percent, said the risks surrounding its economic outlook remain on the downside and the recent rise in global bond yields “may have the potential to negatively affect economic conditions.”
Low interest rates will help “provide support to a recovery in economic activity later in the year and in 2014,” ECB President Mario Draghi told a news conference, adding:
“The Governing Council expects the key ECB interest rates to remain at present or lower levels for an extended period of time,” signaling that the central bank may cut rates if growth fails to improve.
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