ECB Decides Not To Change Economy Course Amid Situation Worsening

ECB Decides Not To Change Economy Course Amid Situation Worsening

During the meeting, representatives of the European Central Bank (ECB) decided not to change the previously appointed loyal credit strategy aimed at providing more time for these mechanisms to stop the downward trends in the economy, Reuters reports.

Head of the bank Mario Draghi noted that the regulator is exploring ways to mitigate the effect of negative deposit rates on financial institutions.

In addition, the Central Bank is considering the possibility of introducing cheaper loans for up to two years, according to Draghi. He also stressed that it is not time to decide on this issue since bank representatives need more data. Therefore, the ECB intends to collect information until June.

Draghi stressed that the economy of the European Region still has some margin of safety, but in 2018 the development pace will be still slow.