A combination of measures may be needed to prop up the euro zone economy, as rec...
FRANKFURT - A combination of measures may be needed to prop up the euro zone economy, as recent indicators paint an even bleaker picture of the outlook, European Central Bank policymakers said at their July meeting, the accounts of the meeting showed on Thursday.
The accounts of the July 25 meeting showed that include a combination of a rate cuts, asset purchases, changes in the guidance on interest rates and support for banks through partial relief from the ECB’s negative interest rate. A multi-tier deposit rate may be among the most controversial measures under consideration. The minutes indicated wide differences among policymakers; some warned about the unintended consequences of such a policy shift.
Draghi said at the press conference following the meeting that extending that to both sides of 2% was considered, and that there would be no cap at that level. But they also noted that the source of troubles is external, with the global trade war, Brexit and China’s slowdown posing the biggest risks.
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