At today’s meeting the European Central Bank announced that it would leave interest rates at their current low levels and continue to buy debt assets at the current monthly rate.
In his post-meeting press conference ECB president Mario Draghi noted that despite an increase in economic growth in the EuroZone to 2.3% year over year in the second quarter, the bank has yet to see a sustained increase in the rate of inflation that would lead to a change in policy. The one area of concern that the bank is monitoring, Draghi said, was the strength of the euro and the recent volatility in the euro exchange rate.
The bank will decide on the continued pace and a schedule for reducing its asset purchases in October.
The news helped the iShares MSCI Finland ETF (EFNL), a member of my Jubak Picks portfolio, move up 1.33% today, September 7.