Germany-ECB/Monetary Policy
Frankfurt, Germany - Dec 13, 2018 (CCTV - No access Chinese mainland)
1. ECB President Mario Draghi walking toward table in front of reporters
2. Various of Draghi posing for pictures
3. Various of Draghi at press conference
4. Sign reading "European Central Bank"
5. Screen showing time of New York, Frankfurt, Tokyo
6. Press conference in progress, reporters
7. Cameramen
8. Various of press conference in progress, reporters
FILE: Frankfurt, Germany - Date Unknown (CCTV - No access Chinese mainland)
9. Various of European Central Bank headquarters; EU flags, sign reading "European Central Bank"
FILE: Amsterdam, Netherlands - Date Unknown (CCTV - No access Chinese mainland)
10. Various of port
The European Central Bank (ECB) announced it will end its massive bond-buying program at the end of the year, but will keep the Eurozone interest rates unchanged.
The bank made the announcement at a press conference held in Frankfurt on Thursday.
Following a two-day governing council meeting, the ECB took a crucial step towards normalizing policy with formally announcing the bond-buying exit after almost four years and 2.6 trillion euros (2.95 trillion U.S. dollars) asset purchases.
The Eurozone base interest rate will remain at 0.00 percent, with the marginal lending rate and deposit rate staying at 0.25 percent and minus 0.40 percent respectively, according to the central bank.
ECB President Mario Draghi said at the press conference that the ECB will implement the bond-buying exit at the end of this month, and the capital of the maturity securities will be fully reinvested. The investment will continue for a period of time after the rate hike in the future to avoid excessive impact on the market.
Draghi also admitted that the economy is slowing down. Therefore, the ECB cuts its economic forecast to 1.7 percent from the previous projection of 1.8 percent.
Meanwhile, the central bank expected the inflation rate to drop from 1.7 percent to 1.6 percent in 2019.
According to Draghi, the zero interest rate policy will last at least until next summer, and the ECB is also ready to make relative adjustments to maintain sufficient monetary easing and good market liquidity.
Germany-ECB/Monetary Policy
Dateline : Dec 13, 2018/File
Location : Germany
Duration : 1'23
Frankfurt, Germany - Dec 13, 2018 (CCTV - No access Chinese mainland)
1. ECB President Mario Draghi walking toward table in front of reporters
2. Various of Draghi posing for pictures
3. Various of Draghi at press conference
4. Sign reading "European Central Bank"
5. Screen showing time of New York, Frankfurt, Tokyo
6. Press conference in progress, reporters
7. Cameramen
8. Various of press conference in progress, reporters
FILE: Frankfurt, Germany - Date Unknown (CCTV - No access Chinese mainland)
9. Various of European Central Bank headquarters; EU flags, sign reading "European Central Bank"
FILE: Amsterdam, Netherlands - Date Unknown (CCTV - No access Chinese mainland)
10. Various of port
The European Central Bank (ECB) announced it will end its massive bond-buying program at the end of the year, but will keep the Eurozone interest rates unchanged.
The bank made the announcement at a press conference held in Frankfurt on Thursday.
Following a two-day governing council meeting, the ECB took a crucial step towards normalizing policy with formally announcing the bond-buying exit after almost four years and 2.6 trillion euros (2.95 trillion U.S. dollars) asset purchases.
The Eurozone base interest rate will remain at 0.00 percent, with the marginal lending rate and deposit rate staying at 0.25 percent and minus 0.40 percent respectively, according to the central bank.
ECB President Mario Draghi said at the press conference that the ECB will implement the bond-buying exit at the end of this month, and the capital of the maturity securities will be fully reinvested. The investment will continue for a period of time after the rate hike in the future to avoid excessive impact on the market.
Draghi also admitted that the economy is slowing down. Therefore, the ECB cuts its economic forecast to 1.7 percent from the previous projection of 1.8 percent.
Meanwhile, the central bank expected the inflation rate to drop from 1.7 percent to 1.6 percent in 2019.
According to Draghi, the zero interest rate policy will last at least until next summer, and the ECB is also ready to make relative adjustments to maintain sufficient monetary easing and good market liquidity.
ID : 8098203
Published : 2018-12-14 12:26
Last Modified : 2018-12-14 18:05:00
Source : China Central Television (CCTV)
Restrictions : No access Chinese mainland
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