European Central Bank President Mario Draghi implied injecting additional stimulus to bolster the economy, including further reduction in the deposit rate.
Draghi said the Governing Council has tapped the ECB’s committees with reviewing the pros and cons of various monetary policy actions ahead of their December meeting. He added there was a deep discussion about the instruments which might be utilized.
Earlier, ECB officials retained key interest rates. The benchmark rate was left at 0.05%, while the deposit rate at minus 0.2%. The ECB president indicated they might discuss a potential future cut in the deposit rate at Thursday’s meeting.
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