ECB set to open the financial spigots wider
The European Central Bank has made it clear that it will continue to pump money into the financial system through its deeply negative interest rate setting and its purchases of financial assets.
The meeting of the governing council in Frankfurt on Thursday demonstrated the continued support for the ultra-easy monetary policy favoured by its president Christine Lagarde against a pushback from some northern European members who want to see the rate of bond purchasing eased.
Christine Lagarde, President of the European Central Bank [Credit: Bernd Hartung/European Central Bank]
It was the first meeting of the governing council since the ECB adopted a new strategy earlier this month the first change in two decades that lifted its inflation target to 2 percent, dropping a previous commitment to keep price rises below that level.
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