Christine Lagarde gave her first speech as the European Central Bank President. Lagarde specifically focused on the changing environment of the world economy and how Europe needs to consider its place and reset its ambitions.
The European Central Bank failed to announce the official key interest rate figure but instead suggested that a rate cut would occur in the near future. President Mario Draghi emphasised a need for more stimulus following the lack of growth from the package put in place following the sovereign debt crisis of 2011.
The European Central Bank (ECB) says it expects rates to stay at present or lower levels at least through the first half of 2020. The bank’s Governor, Mario Draghi made this known while announcing the decision to hold interest rates. Chinonye Nnewuihe, Senior Analyst at Meristem Securities joins CNBC Africa for more.
The European Central Bank is leaving its benchmark interest rates unchanged. President Mario Draghi expressed confidence in the euro zone inflation rally which is expected to pick up towards the end of the year. At a press conference of the monetary policy decision he had this to say.
If Steinhoff’s debt was to be converted into equity, however, the ECB would find itself in a conundrum as the rules that it has given itself only allow for owning debt.