Economics
ECB Holds Off Pushing the Alarm Button Over Global Risks
- Central bank publishes account of Sept. 12-13 policy meeting
- Officials stressed economy is strong enough to ride out risks
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European Central Bank policy makers held back from raising the alarm about risks to the euro-area outlook even after a debate that noted mounting global threats.
At its last policy meeting, the Governing Council focused on the impact of trade protectionism and even said that there was a case for characterizing the risks as “tilted to the downside given the clear prevalence of downward global risks.” It ultimately decided that the strength of the domestic economy meant it could stick to “broadly balanced.”