|
(CEP News) - The European Central Bank is discussing alternative monetary policy tools that it may unveil in May, Maltese central bank governor Michael Bonello said.
Speaking at an event in Malta on Thursday, the central banker said the ECB's rate cuts are having an effect on financial conditions in the euro zone, echoing some of what has been said by ECB President Jean-Claude Trichet. Inflation rates in Europe are likely to fall into negative territory throughout the summer before returning to positive levels later in 2009, Bonello said. He also emphasized that downward revisions to the euro zone's growth estimates by international institutions such as the IMF and OECD display the gravity of the current financial crisis. Nevertheless, Bonello said he expects a return to a modest 0.1% growth rate in 2010. By Erik Kevin Franco,
This email address is being protected from spam bots, you need Javascript enabled to view it
, edited by Stephen Huebl,
This email address is being protected from spam bots, you need Javascript enabled to view it
CEP Newswires - CEP News © 2009. All Rights Reserved. www.economicnews.ca The Copying, Broadcast, Republication or Redistribution of CEP News Content is Expressly Prohibited Without the Prior Written Consent of CEP News. A copy of CEP News disclaimer can be found at http://www.economicnews.ca/cepnews/wire/disclaimer. |
