Ex Post Facto: Behind the stories

ECB rate hold raises plenty of questions

9th February, 2014
Mario Draghi: the president of the European Central Bank kept interest rates steady.

The European Central Bank governing council clearly does not think Europe is turning Japanese. If they did, president Mario Draghi would have announced new measures to stimulate lending and fight the deflation that appears to be taking hold in the eurozone.

Instead Draghi and the governors opted to keep interest rates at 0.25 per cent and do nothing else last Thursday. The hold on rates was no surprise - another few basis points is unlikely...

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