ECB pledges longer support to eurozone economy | latest news


The European Central Bank unveiled new monetary policy targets Thursday, July 22, that signal longer support for the battered eurozone economy, in line with its recent commitment to boost inflation well below its 2% target.

وقال Central Bank two weeks ago, in unveiling a new strategy and an adjusted inflation target, said prolonged periods of low inflation would require “particularly strong and persistent” support, hinting that the stimulus could last longer than many expected.

The bank said it expects interest rates to remain at current levels or below until inflation reaches the 2% target “well before” the end of its forecast horizon, while keeping borrowing costs unchanged until the end of the forecast horizon.

He added that efforts to raise inflation should be consistent with its stability at the level of 2% in the medium term.

“This may also imply a transition period in which inflation will be moderately above target,” the central bank statement said.


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