IMF supports ECB’s new stimulus programme

Washington, Dec 4 (IANS) The International Monetary Fund (IMF) has said it supported the European Central Bank’s (ECB) decision on the Eurozone and urged the ECB to exert more to achieve its price stability goal.

“The ECB’s decision today will help address increased downside risks to the recovery,” Xinhua quoted IMF spokesman Gerry Rice as saying on Thursday at a press meeting of the Washington-based global lender.

“Today’s action and its strong commitment to adjust the programme if needed will help meet the price stability objective,” he said.

The IMF urged the ECB to “continue to strongly signal its willingness to act and use all the instruments available till its price stability mandate is met.”

The ECB on Thursday decided to lower the interest rate on deposit facility by 10 basis points to minus 0.3 percent.

The central bank also decided to extend the asset purchase programme till the end of March 2017 from September 2016.

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