October ECB meeting: APP extension at a reduced monthly pace
As expected, the ECB decided at the October 26 monetary policy meeting to keep its key interest rates stable and extend the asset purchase programme (APP) by nine months to September 2018 at a reduced monthly volume of net asset purchases to €30bn as of January 2018 from €60bn currently. Since the September ECB policy meeting, the economy continued to show signs of recovery with data pertaining to Q3 GDP suggesting that the positive momentum experienced in the first half of the year should be maintained. However, while the improved economic recovery has helped inflation expectations to move higher lately and core inflation to recover from multi-year lows recorded earlier this year, domestic price pressures are still muted overall (Figures 1 & 2).
Viewers can log herebelow and read the full report: Global Focus Note_October 26_ECB meeting