Consolidating european contact centre operations
They began in March and are expected to continue until the end of September 2016.
In any event, they will continue until the Governing Council sees a sustained adjustment in the path of inflation that is consistent with its goal of achieving rates below, but close to, 2% over the medium term.
As a result, in January 2015 the Governing Council decided to launch an expanded asset purchase programme.
At a time of weak domestic inflationary pressures, the steep drop in oil prices from mid-2014 onwards caused inflation to weaken further.
The OMT tool has not been used, but it still could be if fears of the single currency’s integrity resurface.
The first was to maintain confidence in the single currency amid tremendous financial instability and uncertainty.The effectiveness of our policies is in the balance: our economies are too interdependent for us to turn our backs on one another.Our legitimacy is also in the balance: European strategies and decisions that require national political involvement cannot be effectively implemented unless they are fully understood and supported by the Member States.The second was to maintain price stability despite financial fragmentation in the euro area.
And the third was to combat the risk of prolonged weakness in inflation at a time when all of the ECB’s conventional instruments had already been used.As you know, the principal channel used to implement conventional measures, those used by central banks in normal times, is the interest rate channel.