ECB decided today to move its main refinancing rate at a historical low level and explained the central banks action in the ECB Press Conference that followed, here are some highlights: (EU) ECB Chief Draghi (Prepared Speech): Economic growth in the euro zone remains weak, heightened uncertainty is weighing on confidence. Inflation pressure over the policy horizon has been dampened further ECB retains its full ability to maintain price stability by acting in a firm and timely manner. Q2 euro zone GDP showed continued economic weakening, euro zone economy will recover gradually. Credit conditions, balance sheet adjustments, debt crisis and high unemployment ...
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