ECB warns against fuelling undue expectations on stimulus

Frankfurt

EUROPEAN Central Bank (ECB) officials "widely" agreed that their immediate reaction to the outcome of the UK's referendum shouldn't fuel excessive speculation about more stimulus.

"The view was widely shared that the Governing Council needed to reiterate its capacity and readiness to act, if warranted, to achieve its objective, using all the instruments available within its mandate, while not fostering undue expectations about the future course of monetary policy," according to an account of the July 20-21 meeting published on Thursday.

The UK's decision t…