Germany-ECB Interest Rates

European Central Bank keeps interest rates unchanged

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Shotlist


Frankfurt, Germany - March 8, 2018 (CCTV - No access Chinese mainland)
1. European Central Bank (ECB) press conference in progress
2. Sign reading "EUROPEAN CENTERAL BANK EUROSYSTEM"
3. Various of Vitor Constancio (L), ECB Vice President, Mario Draghi (C), ECB President, Christine Graeff (R), ECB Communications Director, at press conference
4. SOUNDBITE (English) Mario Draghi, President of European Central Bank (partially overlaid with shot 5):
"We decided to keep the key ECB interest rates unchanged. We continue to expect them to remain at their present levels for a extended period of time, and well past the horizon of our net asset purchases. We confirm that our net asset purchases at the current monthly pace of 30 billion euro are intended to run until the end of September, 2018, or beyond if necessary."
++SHOT OVERLAYING SOUNDBITE++
5. Reporter typing
++SHOT OVERLAYING SOUNDBITE++
6. Reporters
7. Draghi speaking
8. Cameraman
9. Constancio, Draghi, Graeff leaving

Storyline


The European Central Bank (ECB) on Thursday decided to keep key interest rates unchanged at the monetary policy meeting in Frankfurt, Germany.

Interest rates on the main refinancing operations, on the marginal lending facility and the deposit facility will all remain unchanged at 0.00 percent, 0.25 percent and minus 0.4 percent respectively, according to an ECB statement.

"We decided to keep the key ECB interest rates unchanged. We continue to expect them to remain at their present levels for a extended period of time, and well past the horizon of our net asset purchases. We confirm that our net asset purchases at the current monthly pace of 30 billion euro are intended to run until the end of September, 2018, or beyond if necessary," said Mario Draghi, President of ECB.

The unchanged interest rates decision came as no surprise to the market. As the economic recovery continues to gain momentum in the euro area, there has been increasing speculation about the winding down of the ECB's monetary easing policies.

However, in comparison to its previous announcements, the ECB made no mention of its readiness to increase the asset purchase program this time.

The removal of the so-called easing bias from its monetary policy decision sparked a rally of the euro against the U.S. dollar. However, it gave up all its gains after Draghi clarified that the ECB policy would remain reactive.

The ECB also revised its forecast for the real GDP growth of the euro area in 2018 to 2.4 percent in its March 2018 staff macroeconomic projections.

With regard to inflation expectations, the ECB foresees the annual Harmonised Index of Consumer Prices (HICP) inflation at 1.4 percent in 2018, 1.4 percent in 2019 and 1.7 percent in 2020.

Compared with the December 2017 Eurosystem staff macroeconomic projections, the outlook for headline HICP inflation has been revised down slightly for 2019 but remains unchanged for 2018 and 2020.

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  • ID : 8075414
  • Published : 2018-03-09 06:27
  • Last Modified : 2018-03-09 16:51:23
  • Location : Frankfurt,Germany
  • Category : economy, business and finance
  • Duration : 1'10
  • Audio Language : English/Nats
  • Source : China Central Television (CCTV)
  • Restrictions : No access Chinese mainland
  • Version : 1
  • ID : 8075414
  • Published : 2018-03-09 15:35
  • Last Modified : 2018-03-09 16:51:23
  • Location : Francfort,Allemagne
  • Category : economy, business and finance
  • Duration : 1'10
  • Audio Language : Anglais/Nats
  • Source : China Central Television (CCTV)
  • Restrictions : Pas d’accès dans la partie continentale de Chine
  • Version : 1
  • ID : 8075414
  • Published : 2018-03-09 16:44
  • Last Modified : 2018-03-09 16:51:24
  • Location : فرانكفورت,ألمانيا
  • Category : economy, business and finance
  • Duration : 1'10
  • Audio Language : الإنجليزية / الصوت الطبيعي
  • Source : China Central Television (CCTV)
  • Restrictions : No access Chinese mainland
  • Version : 1
  • ID : 8075414
  • Published : 2018-03-09 14:45
  • Last Modified : 2018-03-09 16:51:23
  • Location : Франкфурт,Германия
  • Category : economy, business and finance
  • Duration : 1'10
  • Audio Language : Английский/Естественный звук
  • Source : China Central Television (CCTV)
  • Restrictions : Недоступно материковой части Китая
  • Version : 1
  • ID : 8075414
  • Published : 2018-03-09 14:18
  • Last Modified : 2018-03-09 16:51:23
  • Location : Frankfurt,Alemania
  • Category : economy, business and finance
  • Duration : 1'10
  • Audio Language : Inglés/Nats
  • Source : China Central Television (CCTV)
  • Restrictions : No acceso a la parte continental de China
  • Version : 1
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