ECB Agreed on a comprehensive package
Having agreed on a comprehensive package of
monetary easing measures in March, the Gov-
erning Council of the ECB adopted no new
non-standard measures in the reporting quar-
ter and left its policy rates unchanged.
At its monetary policy meeting in July, it discussed
potential consequences of the UK referendum
for the euro area and concluded that the base-
line scenario of an ongoing economic recovery
and a gradual increase in infation rates in the
euro area remained intact. Given the uncer-
tainty resulting from the outcome of the refer-
endum, the ECB’s Governing Council did, how-
ever, announce that it would closely monitor
the outlook for price stability and reassess the
most likely path of inflation as well as the risks
over the coming months based on newly avail-
able information.
EU Forecast
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