Avoid flooded roads, but follow these tips to navigate them safely if you have no other option
uae3 hours ago
“This zero rate policy would not be appropriate in our own case,” he told a news conference in Tokyo.
The ECB earlier this month lowered its key lending rate by a quarter point to a record low 1.25 percent and Trichet said at the time that a further “measured” reduction was possible.
The US and Japanese central banks have lowered their main lending rates to virtually zero, while the Bank of England has slashed official borrowing costs to a record-low 0.5 percent to fight a deepening recession.
The ECB has disappointed some investors who wanted deeper interest rate cuts to revive the ailing eurozone economies.
Trichet reiterated that the ECB would unveil new unorthodox measures to tackle the economic downturn when its governing council meets next month.
“We have a rendezvous May 7 and we will decide on further non-standard measures,” he said.
The ECB chief noted that the bank had already adopted new tools such as providing commercial banks with unlimited amounts of cash at fixed interest rates.
The ECB has so far been reluctant to follow the example of its counterparts in Japan, the US and Britain, which have programmes to buy corporate bonds aimed at bringing down market interest rates.
Some ECB officials, such as vice president Lucas Papademos, have suggested the bank could follow its peers in buying corporate bonds to ease credit market tensions, fanning talk of a split between policymakers.
Trichet, however, brushed aside such suggestions.
“There is no split in the governing council. We have a very, very united governing council,” he told reporters. “I would warn you against over-interpretation of what is being said by my colleagues.”
Avoid flooded roads, but follow these tips to navigate them safely if you have no other option
uae3 hours ago
All relevant agencies are prepared to tackle the anticipated weather fluctuations by implementing proactive measures
uae3 hours ago
Concerned authorities in Dubai confirm their readiness to deal with the prevailing conditions
uae9 hours ago
Stoinis top-scored in Lucknow's modest chase of 145 against Mumbai as the home team achieved their target with four wickets and four balls to spare
cricket10 hours ago
According to the Met Department, inclement weather is expected to begin from the west by Wednesday night, extending over most areas of the country on Thursday
uae11 hours ago
The number of e& UAE subscribers reached 14.5 million in Q1 2024
telecom11 hours ago
National Emergency, Crisis and Disaster Management Authority confirmed its readiness to deal with inclement weather
uae12 hours ago
He will be among a 15-member squad headed to the United States and West Indies for the tournament starting June 1
cricket12 hours ago