European Central Bank keeps money taps open, nods to eurozone recovery
As inflation continues to miss its recovery targets, the ECB left its stance in place this week, however openly accredits the current strength of the EU economy, which now on its best run since the global recession. Despite calls from Germany, the EUs economic powerhouse, for a gradual reduction of stimulus, the ECB even left the door open to further rates cuts or an increase in asset buys. However ECB President noted that the EU economy had further improved and the risk of a new downturn had receded, a signal seen by many as foreshadowing an amendment at the next meeting in June.
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