The unexpected rate cut underlined ECB President Mario Draghi’s determination to try to lift inflation from rock-bottom levels and support the stagnating eurozone economy. It came even though Draghi had said after the ECB’s last rate cut in June that “for all the practical purposes, we have reached the lower bound”.
Shortly after the move was announced, Draghi told a news conference: “The loss in economic momentum may dampen private investment, and heightened geopolitical risks could have a further negative impact on business and consumer confidence.”
Rotterdam, 04/09/2014-INC News
No comments:
Post a Comment