La European Central Bank , Bank of England they kept reference rates unchangedrespectively at 0,25% (historic low reached in November) and 0,5%.
The decision is in line with the expectations of markets and analysts, even if a minority of insiders had bet on a cut in the euro area to 0,10%, in the wake of further slowdowns in inflation.
The preliminary data for January signaled a new and unexpected slowdown in the cost of living, to 0,7%. A value increasingly distant from the institution's official objective, which points to inflation below but close to 2% on the 18-24 month average.
The markets are also awaiting indications on new measures of an extraordinary nature: in particular, the possibility of making new liquidity injections into banks. This time, however, the loans would come with the obligation to use the funds, at least in part, to finance the real economy.
Finally, recently, rumors have been circulating about another hypothesis, that of suspending the monetary sterilization of past soothing purchases of government bonds (the old Smp programme). A similar measure would imply liquidity injections of approximately 180 billion, which would concern the countries most affected by the past public debt crisis, including Italy.
