ECB hints at more stimulus in December - European Stocks close lower
The European Central Bank hinted at more monetary stimulus on Thursday, as the two largest economies in the region prepare for a second national lockdown.
The bank decided to keep its rates and wider monetary policy unchanged, but suggested that additional policy action in the euro zone could come as soon as December.
“The Governing Council will carefully assess the incoming information, including the dynamics of the pandemic, prospects for a rollout of vaccines and developments in the exchange rate,” the ECB said in a statement on Thursday.
It said new economic projections in December “will allow a thorough reassessment” of the economy and risks.
Thursday’s decision means the interest rate on the ECB’s main refinancing operations, marginal lending facility and deposit facility remain at 0%, 0.25% and -0.5%, respectively. In addition, its Pandemic Emergency Purchase Program (PEPP), created in the wake of the coronavirus outbreak, was left unchanged.
European stocks close lower as ECB hints at further stimulus; Nokia down 20%
European markets closed slightly lower on Thursday after a choppy trading session, as investors digest new lockdown measures in France and Germany and the European Central Bank’s latest policy decision.
The pan-European Stoxx 600 closed down by nearly 0.2% provisionally, having been higher earlier in the session. Travel and leisure stocks bucked the downward trend to add 2.4% while media stocks fell 1% to lead losses, with most sectors and major bourses sliding into negative territory.
Reference: CNBC
Thai
Eng