Interest rates unchanged in the Eurozone. This was communicated by the board of the European Central Bank at the end of this morning's meeting. The reference rate therefore remains at an all-time low of 0,05%, while the marginal rate remains at 0,3% and that on deposits at -0,2%.
The decision was widely awaited by the markets, given that Mario Draghi himself, president of the ECB, had repeatedly stressed that there is no more room for intervention on rates to loosen monetary policy.
International attention is rather focused on the extraordinary measures and in particular on the possibility that the Eurotower decides to launch quantitative easing, ie a plan for the generalized purchase of private and public bonds.
This would be the most powerful weapon in the hands of the Central Bank to try to restart inflation, after the go-ahead for new Tltro loans and plans for the purchase of covered bonds and ABS in recent months.
Draghi opened up to QE during the latest public statements and today the markets await further indications during the press conference scheduled for 14 pm in Italy. The ECB president will also illustrate the updated forecasts of the ECB technicians on economic growth and inflation.
