(EurActiv) - The European Central Bank decided on Thursday (6 June) to keep the low interest rates unchanged at least until mid-2020, and confirmed that it is considering further monetary stimulus, including further rate cuts and restarting the asset purchasing programme, to counter the trade tensions and Brexit uncertainty. But that's slim comfort for banks, whose net interest margins - the difference between the rate at which they borrow and the rate at which they lend - have been squeezed.
The ECB's main refinancing rate remains at zero, while financial firms must pay a negative interest rate of 0.4 percent on deposits with the central bank.
Notably, investors took the ECB's new message that rates would "remain at their present levels at least through the first half of 2020" as ruling out any cut until then.
"Several members raised the possibility of further rate cuts". And now we have the threat of rising protectionism, the geopolitical dangers that we have seen.
Draghi himself said central banks and the markets have been navigating troubled waters for years, and may continue to do so.
"Core" inflation, which excludes volatile items like food and energy, is still weaker.
With the bloc's inflation prospects diminishing rapidly, ECB President Mario Draghi sought to reassure investors that the central bank was ready to act if needed to support an economy hurt by weaker global trade and that it could even resort to once-taboo measures.
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It has held rates at rock-bottom and completed a "quantitative easing" (QE) bond-buying scheme amounting to 2.6 trillion euros ($2.9 trillion) between 2015 and 2018.
Both were created to increase lending, economic growth and ultimately inflation.
Other risks weigh on the eurozone, including a budget confrontation between Brussels and Rome, Greek elections and a possible no-deal Brexit following the departure of British Prime Minister Theresa May. But Draghi said European Central Bank governors had been forced to reassess this judgment given US-China trade tensions, the continued uncertainty about the timing and terms of Brexit, and "more generally the uncertainty about global trade growth".
The ECB may well have to loosen monetary policy again.
"The policy space is there", Draghi said, although "we have not discussed which contingency would call for which instrument". "Draghi would have to sound very concerned about the growth and inflation outlook to cause a reaction in the euro", said Antje Praefcke, an analyst at Commerzbank, in a note to clients.
Meanwhile, London's FTSE 100 had posted a gain of 0.55 percent, and Milan-traded equities had wrapped up the day higher despite another choppy session for the Italian lenders, shedding more than 1.2 percent on Thursday's (June 6th) intra-day trading.
But price stability in the single currency area will not be his responsibility for much longer.
Fury's told ESPN that he thinks Ruiz can back up the NY win in that bout, which is expected to be in November or December. I looked at Joshua and he didn't have no water, no sweat on him and I thought this guys is going to get knocked out.
The prime minister visited the island nation in November to attend President Ibrahim Solih's swearing-in ceremony. Sri Lankan President Maithripala Sirisena had visited India last week for the oath-taking ceremony of PM Modi.
The oldest recipient is John Haymen, 100, who receives a BEM for services to the community in Binsted and Alton, Hampshire. Sarah Waters, famed for her raunchy novels featuring lesbian protagonists, including Tipping The Velvet , was made an OBE.
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This is the first time Gandhi is participating in a public rally Kerala after the party's drubbing in the general elections. In the temple town of Guruvayur, Modi said: "Those who made us win are ours, those who did not make us win are also ours.
With the ICC Cricket World Cup at its peak, fans everywhere are glued to their televisions rooting for their favourite team. They have lost their opening two matches to England and Bangladesh, while India are playing their first game.
Selon lui, ce sont les plus fragiles qui mangent ces steaks: "Ceux qui prennent du steak haché le font souvent pour leurs enfants. De faux steaks hachés ont été distribués à diverses associations oeuvrant pour les plus démunis, rapporte RTL .
Kim Hyok Chol was being regarded as one of North Korea's "rising stars" before being tasked with organizing the summit. It also said Kim Jong Un's translator had likely been sent to a prison camp for an interpreting error.
Then I have a job to do. "Then I didn't get them, and I was like, Wow, 'that was a bad idea". "I'm putting myself into positions". Her confidence must be sky high, hitting the ball that well and feeling it so well.
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Ce qui vous attend ce vendredi — Tempête Miguel
Partagés entre crainte et émerveillement, les habitants de Royan, en Charente-Maritime, ont quand même fait preuve de prudence. Dans les prochains jours, une attention particulière doit être portée à l'évolution des conditions météorologiques.
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Sirisena suspended police chief Pujith Jayasundara and dismissed his top defence official Hemasiri Fernando after the bombings. The Indian premier is to make a brief stopover in Colombo on his return from an official visit to the Maldives on Saturday.
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