The European Central Bank will slash growth forecasts on Thursday and is likely ...
More worryingly, inflation is seen holding well short of the ECB’s target of almost 2 percent for years to come, suggesting the bank will keep on missing its objective well into the next decade.
“The fact that the ECB cannot change many of the reasons for the current weakness of the euro zone economy with an even looser monetary policy also speaks in favour of a rather restrained effect of further monetary policy measures,” Commerzbank economist Michael Schubert said. “In view of negative interest rates, record excess liquidity and the nature of the current problems, the impact may only be minor,” he added.
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