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.
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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.
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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.
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