ECONOMICS COMMENTARY
Aug 07, 2014
ECB leaves policy unchanged, awaiting impact from prior stimulus
As widely expected, the European Central Bank left policy unchanged at its August Governing Council meeting. At the press conference, President Mario Draghi indicated that policymakers saw no immediate need for further stimulus. The recovery was "weak, fragile and uneven", but nevertheless progressing as expected. Inflation expectations were seen to be well anchored and policymakers were waiting to ascertain how stimulus measures announced in June would help boost the economy and lift inflation in the second half of 2014.
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