As was predicted, the European Central Bank (ECB) was consistent in its outlook from previous meetings by praising the efforts of peripheral European countries, but insisting that they keep enacting various reforms that are still pending.
Germany will hold elections in just over a month and inflation is stabilizing in the euro zone around 1.6%. These are two reasons for the ECB?s decision to maintain interest rates at 0.5%.
Mario Draghi hinted that the ECB?s monetary policy would not toughen until well into 2014, which is a clear move to maintain stability across the continent's stock markets. Germany is setting the pace for the rest of the euro zone and it looks like nothing will change until it holds its next elections.
