As widely expected by analysts, the cost of money in the Euro area remains unchanged at 1% for the third consecutive month, a level reached last December and which represents an all-time low. According to a survey carried out on a sample of economists, the rate should remain unchanged until the third quarter of 2013. The Eurotower management chaired by Mario Draghi also the marginal rate was maintained at 1,75% and that on deposits at 0,25%.
The choice of the ECB appears justified in the light of the contradictory signals recorded at the beginning of 2012, following the 0,3% contraction of the Eurozone's GDP at the end of 2011. Even the Bank of England today confirmed the historic lows interest rates on the pound, in this case at 0,5 per cent.
The announcement came at the end of the ECB's monthly monetary policy council, while it is Mario Draghi's press conference is expected at 14pm.
