[ad_1]
The European Central Bank kept its stimulus plans and interest rates unchanged amid record inflation as the war in Ukraine dampened expectations on the eurozone economy.
Meeting for the second time since the start of the war, the bank’s 25-member board stood by a plan that envisions the end of the bond-buying scheme in the third quarter. while an interest rate hike will come shortly after the stimulus program ends said ECB President Christine Lagarde.
“We need to be aware of the fact that when there is a war, when there are major developments that are not anticipated that are not part of the patterns of the past, it is extremely difficult to integrate what you really thought.”
So far institutions such as the Bank of England, the US Federal Reserve and the Bank of Canada have adopted their first interest rate hike in response to rising inflation.
Calls for the ECB to follow suit as soon as possible from within the governing council have become stronger as prices in the eurozone have risen.
Annual inflation reached 7.5 percent in March, the highest level recorded in recent years.
top channel
[ad_2]
Source link
