The European Central Bank nudges up its expectations for growth and inflation in the euro area this year, whilst keeping its main interest rate unchanged in negative territory.
Based on a regular economic and monetary and rises. We decided to keep the key ECB interest rates unchanged. We continue to expect them to remain at present are lower levels for an extended period of time. And well past the hole rise and allowed net asset purchases. Regarding almost on their monetary policy measures. We confirm that the monthly asset purchases over eighty billion euros. Are intended to run until the end of march 2017. Dollar beyond if necessary. Any nanny case unto you the governing council sees as sustained adjustment. In the process of inflation. Consistent with its inflation pain. As the next step. Own date June. We will stop making purchases. Under our corporate sector purchase program CS VP. Moreover Stockton on 22 June. We would conduct the first operation in our new series. Of targeted the longer term refinancing. Operations. The governing council would closely monitor the evolution of the outlook for price stability. And if warranted to achieve its objective. Will act by using all the instruments available we'd be in its mandate. The economic recovery in the Euro area continues to be dampened. By sub human growth prospects in emerging markets. The necessary balance sheet adjustments in the number of sectors. And as sluggish pace of implementation. Of structural reforms. There are risks to the Euro area growth outlook remained tilted to the downside. But the boss of race has improved on the back of the monetary policy measures taken. And the stainless steel in the pipeline. Downside grace continued to lead to developments in the global economy. To the upcoming British referendum. And two other geopolitical risks. Looking ahead. On the business of current futures price for prices for oil. Inflation rates. Are likely to remain very low or negative. In the next few months. Before our PQ now. Being the second half of 2016. In large part owing to Bay's offense. ED I annual rate of change all energy prices.