ECB's Draghi speech: Combinations of 5 measures to support lending to economy

FXStreet (Łódź) - At the press conference following the ECB's decision to cut the refi, deposit and marginal lending facility rates in June, president Mario Draghi explains that a combination of five measures will be implemented to provide additional monetary policy accommodation and support lending to the real economy.

• The Package of measures includes preparations towards purchases of asset backed securities.

• ECB to discontinue sterilization of SMP purchases.

• The Goverrning Council will work to prepare the QE.

• The ECB is committed to using unconvential measures if there is period of too long period of low inflation.

• Interest rates will remain at present levels for an extended period of time in view of the current outlook for inflation.