ECB is willing to do more to stimulate markets if required

Last week saw the July meeting of the ECB’s Governing Council conclude in line with market expectations — with no changes to monetary policy.

The central bank “decided to keep the key interest rates unchanged” at —0.4% for the deposit rate and at at zero for the refi rate.

It also repeated its commitment that “the monthly asset purchases of €80bn are intended to run until the end of March 2017, or beyond, if necessary”.