Zee Media Bureau
New Delhi: In the latest, ECB has left the interest rates at record low. ECB President Mario Draghi expected inflation to pick up in second half of 2016 and said they are ready to act using all instruments available. Talking at a news conference he also expected recovery to proceed at moderate but strong levels.
Draghi called for focus to raise productivity, boost investment and improve infrastructure.
He said that fiscal policies need to aid the recovery, albeit while conforming with the EU’s growth and stability pact rules.
ECB now sees 2016 inflation at 0.2% versus a March forecast of 0.1% — well below the ECB”s target of near but just below 2%.