Published on Friday, December 4, 2015 | Updated on Wednesday, December 9, 2015

The ECB acts despite marginal changes in projections

The ECB cut the deposit facility rate to a record low of -0.3%, extended the QE programme for six months and strengthened its forward guidance, including reinvestment of principal payments of maturing bonds. The Staff revised its projections only slightly downwards, which hardly justifies today’s decisions. Markets reacted strongly as they expected further measures

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