ECB to stand pat on policy as it looks through rise in inflation
Investing.com
Published Mar 08, 2017 12:48
The ECB is expected to stand pat on policy at Thursday's meeting despite a rise in inflation
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Headline inflation in the euro area rose to 2.0% in February fueled by higher energy prices
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The ECB's medium-term inflation target is close to but below 2%
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But the core CPI, which factors out more volatile energy and fresh food prices, was unchanged at 0.9%
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Euro-zone GDP 2016 annual growth was 1.7%. The OECD Tuesday forecast this to fall to 1.6% in 2017
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The ECB's key lending rate currently stands at 0.0% and the deposit rate at minus -0.4%
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Asset purchases are set to fall to €60 bn in April from €80 bn previously
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The QE program has been extended until the end of this year
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ECB chief Mario Draghi could face further questioning on the tapering of the QE program
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But the issue of tapering is not expected to be on the table until later in the year
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The euro was off 0.06% at $1.0560 at 07:15 ET
Written By: Investing.com
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