Amazon Inc Continues to Expand, Buys Whole Foods Market
Imagine! Lennon brings no peace, but discord at EU summit
Could Amazon's Whole Foods takeover happen here?
Mohammed Bin Salman wins support of Riyadh's 'allegiance council'
Jose Mourinho accused of Spanish 'tax fraud' during Real Madrid stint
European Central Bank holds; Draghi remarks eyed
19 Junio 2017, 11:37 | Dolorita Barahona
Euro dips after report ECB to cut inflation outlook
The ECB said that it expects policy rates to remain "at present levels" for an extended period of time, and well past the horizon of the net asset purchases. Traders are awaiting the outcome of today's United Kingdom election, while the European Central bank made no changes to its monetary policy.
The euro zone economy grew by more than previously estimated in the first quarter and at its fastest rate in a year, European Union statistics agency Eurostat said today.
By 1155 GMT, the euro had fallen 0.6% to $1.1215 and 122.72 yen respectively.
Draghi dampened expectations of an end to the ECB's massive stimulus programme anytime soon as he highlighted the subdued outlook for Eurozone inflation.
The whole premise that the ECB is to raise rates and end its programme of money-printing relies on the assumption that the Eurozone inflation is rising in a sustainable manner towards the Bank's 2% target.
Of the decision to drop a reference to rate cuts he said: "We didn't have a vote but I didn't hear any dissenting voice by any governing council member". This small lift in growth forecasts did enough to quiet fears of further rate cuts down the road.
The bank kept interest rates in negative territory, where they have lingered since 2014, and maintained its vast quantitative easing scheme.
This breaking news story is being updated as more information emerges - please refresh the page for the most recent version.
The common currency was fetching.1251, having regained some footing after slipping to as low as.1204 on Wednesday, pressured by reports suggesting the European Central Bank would lower its inflation targets.
"We need to be patient", Draghi said.
"Downside risks, mainly related to global macroeconomic developments, continue to exist", Mr Draghi said.
The risks surrounding the euro area growth outlook are considered to be broadly balanced, Draghi said.
While Draghi emphasized that the deteriorating inflation outlook was due to movements in price for food and oil, "it is hard for markets to contemplate tighter monetary policy next year with this forecast", said Claus Vistesen, chief eurozone economist at Pantheon Macroeconomics, in a note.
Ending the bond purchases and raising interest rates could have wide-ranging effects, such as a stronger euro and higher interest costs for heavily indebted governments. The ECB noted that underlying inflation has yet to show convincing signs of pickup. Annual real GDP is expected to increase at 1.9% in 2017, 1.8% in 2018 and 1.7% in 2019. The region's economy is now projected to grow by 1.9% this year, versus the prior estimate of 1.8%.
"We still expect an European Central Bank announcement in September that bond purchases are to be tapered off gradually as of January and. halted at the end of 2018", Commerzbank economist Joerg Kraemer said.
Therefore, a very substantial monetary easing is needed to boost inflation in the medium term.
Koepka wins US Open title
In fact he made a mad rush to the finish, birding 11, 12, 14, 16 and 18 to enter the clubhouse only a shot back. That merely added to the drama, though, as a crowded field sorted itself out in a taut U.S.
Lawyer says Trump not under investigation
The Secret Service has said it has no records of any recording systems or transcripts of any conversations Mr. Trump has in recent days expressed frustration with Rosenstein, who has the authority to fire Mueller .
Pakistan make history, win Champions Trophy
Chasing the target of 339 India were all out in 31st over. "We played very well and know we have won the final", Ahmed said. India won the toss and chose to field first in the Champions Trophy final at The Oval.
Yankeemetrics: Dingers, runs, wins, oh my! (June 9-11)
He is shockingly athletic for 6-foot-7, with a smart quickness on the bases and good range and ability playing right field. Tanaka gave up three home runs in five innings Tuesday night during a 5-4 loss to Boston, his fifth consecutive defeat.
US Open golf won by Brooks Koepka in record-matching score
The last two champions, Dustin Johnson and Jordan Spieth , went on to finish in the top 10 at The Open Championship the same year. As the front nine progressed, it looked increasingly as if it would come down to a question of who would blink first.
Hideki Matsuyama closes with 6-under 66 in US Open
After a poor shot on the par-3 13th, Koepka made a long putt to save par and keep him one stroke ahead of Matsuyama in the lead. Brian Harman was a stroke behind and a hole back, while players such as Tommy Fleetwood and Rickie Fowler stayed in the hunt.