Mario Draghi leaves the cost of money unchanged. The Governing Council of the ECB in fact, he decided in today's meeting to leave interest rates at 1%. The marginal rate remains at 1,75% and that on deposits at 0,25%. The decision was expected by the market but the Stock Exchanges still improve their pace and Milan returns to a positive trend.
Meanwhile, average inflation in the 17-member Union remains above the target values of the ECB itself. In January, the annual growth in consumer prices was stable at 2,7%. An overall picture that may have favored the ECB maintaining a wait-and-see position on the cost of money, which is the main tool to fight inflation but which, at the same time, the higher it is, the more it tends to curb economic activity.
