ECB holds interest rates as economic uncertainty deepens
The European Central Bank announced Thursday that it will launch another program to help bank lending in the euro zone, for a third time.
The TLTROs are basically loans that the ECB provides at cheap rates to banks in the euro area. As a result, lenders are able to provide better credit conditions to customers, which in turn stimulates the real economy.The central bank's decision comes at a time when there are increasing concerns about growth in the region.
"The persistence of uncertainties in particular relating to geopolitical factors and the threat of protectionism is weighing on economic sentiment," ECB President Mario Draghi said in January, following a monetary policy meeting. The OECD also said Wednesday that it expects the euro area to grow at only 1 percent this year. Analysts are therefore expecting that the ECB will lower its growth forecast for the year at Thursday's meeting.
France Dernières Nouvelles, France Actualités
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