Draghi: ECB Council Had Wide Discussion On Rate Policy

LONDON (MNI) – The European Central Bank’s Governing Council had a
wide discussion on interest rates Thursday and decided to leave its
official rates unchanged, ECB President Mario Draghi said after the
meeting.

“There was a wide discussion [on possible rate cuts] but in the end
the prevailing consensus was to leave the rates unchanged,” Draghi told
journalists.

Asked about a possible cut in the deposit rate, which would lower
it into negative territory, Draghi noted the recent comments of ECB
chief economist Peter Praet that the central bank is prepared for that.

“We are operationally ready, but the discussions did not go into
depth on this point,” he said. “We did not elaborate any further.”

– London Bureau; Tel: +442078627492; email: dthomas@mni-news.com

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