ECB Monthly Bulletin Editorial for June (Text)
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The following is the text of the European Central Bank’s June monthly bulletin:
In pursuing its price stability mandate, the Governing Council decided at its meeting on 5 June 2014 on a combination of measures to provide additional monetary policy accommodation and to support lending to the real economy. This package includes further reductions in the key ECB interest rates, targeted longer-term refinancing operations, preparatory work related to outright purchases of asset-backed securities and a prolongation of fixed rate, full allotment tender procedures. In addition, the Governing Council decided to suspend the weekly fine-tuning operation sterilising the liquidity injected under the Securities Markets Programme.