Monthly securities purchases will be reduced to EUR 20 billion in June instead of October.
European the central bank decided on Thursday to accelerate the reduction of securities purchases. Securities will be purchased for EUR 40 billion in April, EUR 30 billion in May and EUR 20 billion in June.
The central bank will decide on new monetary policy measures at the end of the summer, which may mean raising the key interest rate. Due to the Russian invasion, the world economy is now being shaken by great uncertainty, which is why the central bank emphasizes that it is waiting for new information on the development of the eurozone economy before the next decisions.
Back in February, the central bank estimated that it would buy securities for EUR 40 billion a month in April-June and EUR 30 billion a month in July-September, and EUR 20 billion a month from October.
Central bank will publish its new business survey later on Thursday, showing how much it expects eurozone economic growth to slow as a result of the Russian-led attack.
In February, rising consumer prices, ie inflation accelerated in the euro area To 5.8 per cent, mainly due to higher energy prices. After Russia invaded Ukraine, energy prices have risen sharply.
According to the central bank’s price stability target, it should be 2% in the medium term.
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