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“ECB is stimulating the European economy”, says El Periódico, as Mario Draghi announced that the European Central Bank will cut its main interest rate from 1.15 per cent to a record-low 0.05 per cent.
The ECB president also announced that the European Central Bank will start buying securitized debt and covered bonds and that a quantitative easing due to start in October has also been discussed, adds the daily.
The decision, aimed at boosting growth and fight deflation, has been welcomed by European stock markets, but, notes the Barcelona newspaper, it also shows that —
the eurozone’s economy is not in such a good phase as some governments like to repeat. The long-awaited recovery is likely to lose some ground it has recently gained.
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