European Central Bank keeps interest rates on hold as growth picks up

Volatility could continue to play out in today's session, as ECB President Mario Draghi will deliver a press conference at 08:30 ET. The ECB is widely expected to keep its policy unchanged on Thursday, including its 2.3 trillion euro bond buying programme and pledge to keep rates low.

European Central Bank president Mario Draghi also hinted that there was no need to cut rates further. Draghi did say that the euro zone growth risks were now "broadly balanced" as opposed what he had said previously, namely that the risks were to the downside. The year-over-year growth rate increased to 1.9% from the 1.8% recorded in the previous quarter and also above the previous estimate of 1.7%.

In previous statements, the European Central Bank said it expected policy rates to remain "at present or lower levels" for an extended period. Net purchases will be made alongside reinvestments of the principal payments from maturing securities purchased under the asset purchase programme.

On Thursday, the bank lowered its forecasts for eurozone inflation this year to 1.5 percent from 1.7 percent, and for next year to 1.3 percent from 1.6 percent.

"Now we have a new situation that the economy is relatively good, while inflation remains very low", Tödtmann told DW.

Euro-area unemployment is dropping faster than projected, with the rate now falling at nearly one percentage point a year and more people joining the workforce.

Jurors to see video of fatal Milwaukee police shooting
On Wednesday, prosecutors began their case by showing photographs of where the shooting happened in a path between two houses. It was the first time the public has seen the shooting from Heaggan-Brown's vantage point and his reaction immediately after.

Quizzed on the speculation that European Central Bank may fail to bring inflation to its "below, but close to 2 percent" target, Draghi said there was no ground for such a scenario now as the inflation picture has not changed much. The Harmonized Index of Consumer Prices (HICP) inflation was 1.4% during May, down from 1.9% in April.

The deposit rate was kept unchanged at minus 0.4 per cent and the main refinancing rate at zero, and officials still intend to buy €60 billion (S$93 billion) of debt monthly until at least the end of the year.

Analysts expect that provision to be dropped as early as next month as the central bank edges toward announcing how it will phase out the bond purchases next year. Deflation concerns are out of proportion as monetary easing mostly affected financial markets; a rollback will affect financial assets, not real inflation.

However, it did close the door to further rate cuts.

The more important driver for the market, di Galoma said, was the expected rate hike by the Federal Reserve next week as well as US long-dated Treasury debt auctions. The pace of growth was also faster than the expected 0.5%.

"One can assume that some reforms were held back because the state's finances no longer look so bad". According to Commerzbank's Schubert, the governments of heavily indebted countries like Spain and Greece have been able to make enormous savings.

Related News:

  • Karp Capital Management Corp Invests $800000 in Splunk Inc. (SPLK)

    ILLEGAL ACTIVITY WARNING: This news story was originally reported by Markets Daily and is the sole property of of Markets Daily. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link .

    Special Prosecutor Is a 'Very Bad' Person Leading a 'WITCH HUNT'

    A close Trump associate said this week the president was considering firing Mueller , although the White House later denied it. In a tweet , the president also seemed to accuse the United States deputy attorney general of pursuing a " Witch Hunt ".
    Keith Urban wins big at CMT Awards

    Keith Urban wins big at CMT Awards

    Tim McGraw - "Lovin' Lately" Brothers Osborne - "21 Summer" Dan + Shay - "How Not To" Florida Georgia Line - "H.O.L.Y." . An up-tempo dance beat kicked in and turned the stage into a country-filled rave. "It's been an fantastic ride".
  • Putin quips he's ready to grant asylum to ex-FBI chief Comey

    Putin, who said on state TV in 2013 that he was divorcing his wife, has two daughters in their early 30s. The Russia leader acknowledged that his country would be ready to live with such sanctions for decades.
    Director John Avildsen dies at 81; won Oscar for 'Rocky'

    Director John Avildsen dies at 81; won Oscar for 'Rocky'

    Avildsen: King Of The Underdogs, won the docu prize at the Beverly Hills Film Festival this spring. The actioner also reunited Avildsen with Karate Kid franchise star Pat Morita.

    Calls for Victims' Legal Rights in London Tower Fire Public Inquiry

    Firefighters are working their way through the smouldering remains of the building's 24 floors, but the fire is out. And as NPR's Frank Langfitt in London , police are hoping that the death toll will not reach the triple digits.
  • Heat advisory in effect; officials warn of health risks

    Heat advisory in effect; officials warn of health risks

    A weak cold front should help lower highs to the upper 80s for the Big Country and only in the 90s for our southern areas Monday . Authorities also warned against leaving children or pets in parked cars, which can heat up to lethal levels in just minutes.
    Gov't report: Health care deductibles higher under GOP bill

    Gov't report: Health care deductibles higher under GOP bill

    The report's cost-sharing average includes people who use their insurance a lot, and those who don't go to the doctor. However, in my extended family, considering all ages, over 90 percent has at least one pre-existing condition .
    Will Fiorentina continue the fight?

    Will Fiorentina continue the fight?

    Another 16 goals brought Lorenzo Insigne, 13 goals went from Jose Callejon and 11 from Marek Hamšík. Forecasts Bookmakers consider Napoli as the main favorite - the coefficient for the victory of the hosts is 1.28.
  • Gillespie edges out Trump-aligned candidate in Virginia gov. primary

    Gillespie edges out Trump-aligned candidate in Virginia gov. primary

    On Tuesday, there were 27 primary races, though candidates in two districts dropped out since the ballots were printed. Northam as she voted in Alexandria. "The reality is we've got to do something and the Republicans know it", Corn said.

    Government will do 'whatever is required' following Grenfell Tower blaze

    As they were about to leave, a man holding a poster showing two missing siblings called for William to go over. He said there was no immediate evidence to suggest it had been started deliberately.

    Russia's military says may have killed IS leader Baghdadi: agencies

    It was unclear whether the Russian military had targeted Baghdadi, or learned of his presence at the gathering after the strike. Sputnik also claimed that Syrian state television reported on Sunday that al-Baghdadi was killed in a USA -led airstrike.

Most liked

Rising trend of casino apps
For those who are looking for a specific game, Cherry Rush also includes a description of what games can be found each site. It used to be that if someone wanted to play a casino game they had to find a land based venue.

Gov't wants more time to address second travel ban ruling
The new version was created to better withstand legal scrutiny and spelled out more of a national security rationale. The Trump administration had appealed to lift the block on the ban imposed by a Hawaiian federal judge.

Uber CEO Kalanick says he will take leave of absence
A company can be aggressive yet have strong values, said Joseph Holt, a business ethics professor at the University of Notre Dame. The report recommends a massive overhaul for the company accused of promoting a toxic "bro culture" under Kalanick's leadership.

GOP Praises Trump's Rollback on Cuba: 'Did the Right Thing'
Embassies in Havana and Washington will remain open. "People-to-people" tour companies needed special licenses from the U.S. The announced policy changes will not change the authorizations for sending remittances to Cuba.

Mueller Hires 13 Attorneys to Join Russia Probe
According to CNN's sources, Mueller's team is gathering facts that may suggest Trump's interference in the FBI investigation . But a source close to the President told CNN's Jim Acosta that Trump has been advised to avoid such a dramatic move.

Trump Blasts Obstruction Of Justice Investigation By Special Counsel
North Carolina Republican Richard Burr and Virginia Democrat Mark Warner aren't providing any other details regarding the meeting. Accusations of obstruction arose last month when Mr Trump sacked Federal Bureau of Investigation director James Comey .

Trump keeps much of Obama's Cuba policy
The policy memo directs the Treasury and Commerce Departments to begin the process of issuing new regulations within 30 days. Critics of the rapprochement said Obama was giving too much away without extracting concessions from the Cuban government .

Trump administration rips leaks surrounding Mueller probe
The President has stressed he was not under investigation, and has taken to Twitter to dismiss the entire investigation as a hoax. Comey's removal will provide us the opportunity to do that on a cooperative, bipartisan basis", according to the letter.

Trump Confirms Being Investigated for Firing Ex-FBI Director Comey
The White House recently began referring all questions on Trump and Russian Federation to the lawyer Marc Kasowitz. Since then, Mueller, who served as FBI director before Comey , took over the investigation.

'Multiple Fatalities' Reported in Orlando-Area Shooting
Mr Demings said the incident was being treated as a "workplace violence incident" and did not appear to have any links to terror. Mr Demings said Neumann acted methodically, singling out his victims and reloading a semi-automatic pistol during the attack.

$-0.80 EPS Expected for ON Semiconductor Corp (ON)
In related news, Director Robin Ann Abrams sold 9,091 shares of the business's stock in a transaction dated Tuesday, May 16th. The stock of Lattice Semiconductor Corp (NASDAQ:LSCC) has "Outperform" rating given on Thursday, February 18 by FBR Capital.

Trump blasts reported obstruction probe as 'phony'
That investigation is being overseen by Robert Mueller , who was appointed as a special counsel last month. The NSA said it will "fully co-operate with the special counsel" and declined to comment further.

How Analysts Rated W Resources PLC (LON:WRES) Last Week?
The stock of W Resources PLC (LON:WRES) earned "Speculative Buy" rating by Beaufort Securities on Tuesday, August 11. Bernstein maintained Marks and Spencer Group Plc (LON:MKS) on Thursday, January 28 with "Market Perform" rating.

Bets for upcoming Southampton vs Arsenal fight
Neither Arsene Wenger nor his players could afford themselves to lose another match if they still want to be in the top four. Arsenal is still keeping the dream to be qualified in Champions League after the victory over Manchester on Sunday.

3 Entertaining Ways to Improve Your Business Skills over the Coming Weeks
In both games and business meetings you may feel everything from frustration to elation, but the trick is to keep is all hidden. Play Poker While millions of people around the world may play poker solely for fun, you can also play to up your business game.