ECB holds rates at record low at Lagarde’s first meeting

Irish Times | Dec 12, 2019 at 1:17 PM
  • The European Central Bank has kept its policy rates unchanged and stuck to its bond-buying programme at the first monetary policymaking meeting under its new president Christine Lagarde.
  • Even after years of negative interest rates and more than €2.6 trillion of ECB bond purchases, European economic growth remains sluggish and inflation is well below its objective.
  • The debut rate decision under Ms Lagarde’s presidency mirrors the unchanged policy rates announced on Wednesday by the US Federal Reserve, indicating that after loosening monetary policy in recent months in a bid to stimulate the economy, major central banks are now pausing while they assess which way global growth is heading.