ECB Keeps Policy Unchanged as Slower Growth Favors Caution

Mario Draghi holds media briefing at 2:30 p.m. in Frankfurt
President to be quizzed on impact of recent economic weakening

The ECB held the main interest rate steady. Bloomberg’s Guy Johnson reports.(Source: Bloomberg)

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By Carolynn Look

April 26, 2018 at 11:48 AM UTC

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The European Central Bank maintained its pledge to move slowly in removing euro-area stimulus, setting the stage for President Mario Draghi to face questions over a recent spate of weaker-than-expected economic data.

Policy makers reiterated that they’ll continue buying 30 billion euros ($36 billion) of assets a month until at least the end of September, while linking the conclusion of quantitative easing to a sustained adjustment in inflation. They kept interest rates unchanged and repeated that they expect borrowing costs to stay at present levels until well past the end of net bond purchases.