ECB ready to tweak QE if needed
Continued elevated uncertainty calls for alertness, says the central bank
Frankfurt
THE European Central Bank (ECB) is ready to adjust its quantitative-easing (QE) programme to respond to any market turbulence amid "unusually low" inflation and "disappointing" economic growth in the euro area.
"While recent market volatility had not materially changed the assessment of the economic outlook, continued elevated uncertainty called for alertness and a readiness to respond, if necessary," the ECB said in a summary account of its July 15-16 monetary-policy meeting. Governors agreed that "the design of the asset-purchase programmes provided sufficient flexibility for them to be adapted if circumstances were to change and should the need arise", according to the report.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Putin plans to meet Xi in China days after his new term starts
Biden vetoes bid to repeal US labour board rule on contract, franchise workers
Economic leaders of South Korea, Japan, China say FX volatility is a risk
US automakers win extension on use of Chinese graphite in EV tax credits
US service sector contracts in April; price pressures up
Thaksin’s daughter calls central bank independence an ‘obstacle’