It has also revised its asset purchase plans, considering finalizing net purchases by the third quarter of this year as long as the inflation outlook is in line with its targets.
The European Central Bank (ECB) has assured this Thursday that it will apply the sanctions that the European Union (EU) and European governments have decided and is willing to approve any decision that is necessary to fulfill that mandate.
It has also reviewed its asset purchase plans, considering finalizing the net purchases for the third quarter of this year as long as the inflation outlook is in line with its objectives, as reported by the institution on Thursday.
The ECB will conclude debt purchases in the third quarter if it considers that inflation is not going to weaken in the medium term.
Regarding interest rates, the statement issued by the ECB has slightly changed the outlook. Until now, the agency had said rates would rise “shortly after” asset purchases were completed.
This Thursday has changed that forecast and has now indicated that any adjustment in the price of money will take place “at some point” after the net purchases of assets end. Also, any change in interest rates “will be gradual.”
The measures proposed by the European Commission to speed up the disconnection of Russian gas and cushion the escalation of prices in the electricity market place geopolitical urgency in the first line of energy action and take priority away from the climate objectives of the European Union.
Source: Eitb
Ricardo is a renowned author and journalist, known for his exceptional writing on top-news stories. He currently works as a writer at the 247 News Agency, where he is known for his ability to deliver breaking news and insightful analysis on the most pressing issues of the day.
