Wed. Sep 30th, 2020

ECB leaves interest rates at record lows as Lagarde takes the reins – business live

Rolling coverage of the latest economic and financial news

12.53pm GMT

The European Central Bank has also confirmed that it has restarted its stimulus programme, in an attempt to push inflation up.

It is buying €20bn of assets each month with newly-created money, and expects to keep running it “for as long as necessary”. The programme will end “shortly before” interest rates are raised, it adds.

12.51pm GMT

The presidency may have changed, but the message from Frankfurt is the same: Eurozone interest rates will stay at record lows for some time.

The ECB says:

The Governing Council expects the key ECB interest rates to remain at their present or lower levels until it has seen the inflation outlook robustly converge to a level sufficiently close to, but below, 2% within its projection horizon, and such convergence has been consistently reflected in underlying inflation dynamics.

Continue reading…Rolling coverage of the latest economic and financial newsLagarde chairs first ECB governing council todayExpected to outline new vision for eurozone central bankAnalyst: Lagarde may challenge governments to spend morePound volatility spikesAramco hits $2trn market cap 12.53pm GMTThe European Central Bank has also confirmed that it has restarted its stimulus programme, in an attempt to push inflation up. It is buying €20bn of assets each month with newly-created money, and expects to keep running it “for as long as necessary”. The programme will end “shortly before” interest rates are raised, it adds. 12.51pm GMTThe presidency may have changed, but the message from Frankfurt is the same: Eurozone interest rates will stay at record lows for some time.The ECB says:The Governing Council expects the key ECB interest rates to remain at their present or lower levels until it has seen the inflation outlook robustly converge to a level sufficiently close to, but below, 2% within its projection horizon, and such convergence has been consistently reflected in underlying inflation dynamics. Continue reading…