Equifax tweets fake phishing site to concerned customers
Iowa tapping into 'electric' night atmosphere for Penn State in prime time
Dollar shines, Asia shares slip after Fed signals December rate hike
In 'Battle of the Sexes,' singles tennis is a team sport
European Central Bank holds; Draghi remarks eyed
19 Junio 2017, 11:37 | Dolorita Barahona
Is dollar weakness set to reverse?
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.
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.
LeBron James Sends Message to His Critics via Instagram
The Warriors have been labelled a superteam by critics following their addition of Kevin Durant as a free agent last summer. The NBA Finals ended four days ago when the Warriors took down the defending champion Cavaliers in a hard-fought Game 5.
Trump calls House health bill he backed 'mean'
It is good news that senators may make their bill more centrist rather than, as the House did, more austere in order to pass it. It is expected that the bill will be ready for a vote before the upcoming August recess, The New York Times reports .
Mueller Has 'Not Yet' Decided to Investigate Trump
Trump got rid of Comey, in May to hamper an inquiry into his sacked national security adviser, Michael Flynn. If Trump would seriously consider firing Sessions, it stands to reason that he would dispose of Comey.
Pakistan thrash India in cricket Champions Trophy victory
A few Pakistan fans stormed the ground to greet their cricketing heroes only to be neutralised by the bouncers on the ground. Except Bhuvneshwar Kumar , all other Indian bowlers struggled badly to give some challenge to the opponents.
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.