Published on Tuesday, July 26, 2016 | Updated on Tuesday, July 26, 2016
Further action likely in September
Summary
The ECB has left the monetary policy stance unchanged. The ECB needs more time to reassess the degree of policy accommodation. Unrelated to monetary policy, Draghi opens the possibility of a “public backstop” for NPL’s.
Topics
- Topic Tags
- Central Banks
- Financial Markets
Documents and files
Authors
SC
Sonsoles Castillo
BBVA Research - Chief Economist for Financial and Economic Analysis
MM
María Martínez
BBVA Research - Principal Economist