Monetary policy decisions, July 2013

The European Central Bank (ECB) left interest rates at a historic low level of 0.5% in the eurozone at the meeting of its Governing Council on the 4 July 2013.

The ECB President, Mario Draghi, said that rates would remain at current or lower levels for an 'extended period'.

This comment represented the first time that the ECB had given an indication of its future guidance on the rate of interest in the eurozone.

• Primary Source

BBC News, 04.07.13: ECB says rates to stay low for 'extended period' http://www.bbc.co.uk/news/business-23181876

ECB: Press Release, 04.07.13: Introductory statement to the press conference (with Q&A) Mario Draghi, President of the ECB, Vítor Constâncio, Vice-President of the ECB, Frankfurt am Main, 4 July 2013 http://www.ecb.int/press/pressconf/2013/html/is130704.en.html

Deutsche Welle, 04.07.13: ECB breaks with tradition, giving 'forward guidance' http://dw.de/p/192ER

EUObserver, 04.07.13: ECB, Germany try to appease markets on euro crisis http://euobserver.com/economic/120768

Social Europe Journal, 04.07.13: ECB Learning Curve Much Flatter Than The Unemployment Curve http://www.social-europe.eu/2013/07/ecb-learning-curve-much-flatter-than-the-unemployment-curve/

---