European Central Bank Latest News: ECB's Noyer Says Forward Guidance in Line With Mandate

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European Central Bank Latest News: ECB's Noyer Says Forward Guidance in Line With Mandate

European Central Bank Latest News: ECB's Noyer Says Forward Guidance in Line With Mandate
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European Central Bank Latest News: ECB's Noyer Says Forward Guidance in Line With Mandate

Wochit 0:53 mins

ECB policymaker Christian Noyer said the European Central Bank's decision to break with precedent by declaring it would keep interest rates at record lows for an extended period is fully in line with its mandate. Referring to the ECB's inflation mandate Noyer said "Forward guidance is fully anchored to our mandate and in line with the two pillars of our strategy." Answering critics who said they were running out of ways to promote growth and lending, the European Central Bank and the Bank of England did something neither had done before, committing themselves to keeping interest rates low indefinitely. The European Central Bank has kept its main refinancing rate on hold at 0.50 per cent in a sign that policy makers believe improvements in the eurozone's economy are gaining traction.

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