ECB will reassess stimulus measures early next year

It left the main refinancing rate at a record-low 0.05%


EUROPEAN Central Bank (ECB) policymakers will gauge the need for further stimulus at the beginning of 2015, President Mario Draghi said as he unveiled "substantially" lower forecasts for inflation and growth.

The Governing Council will reassess the effects of existing monetary stimulus "early next year", Mr Draghi said at a press conference in Frankfurt on Thursday. He announced that the central bank has cut all its forecasts for gross domestic product and price gains through 2016.

Since June, the Frankfurt-based central bank has cut interest rates twice, offered cheap loans to banks to spur lending and started purchase programmes for covered bonds and asset-backed securities.

With euro-area...


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