ECB upbeat but rates remain low

Interest rates will remain at current levels or lower for an extended period and the quantitative easing program will last at least until March 2017. This was stated by President of the ECB Mario Draghi stating that the Q and will last as long as there will be a correction significant inflation and that stimuli have rebalanced the risks and the economy is gradually advancing.

The ECB, Draghi added, will not hesitate to act if necessary. And it recalled that the low rates are a symptom of a weak economy and that they are the right fit for restoring growth. In addition, the ECB will use all the instruments available within the framework of its mandate if necessary.

The recovery in the eurozone, said the president of the Eurotower, "proceed at a moderate pace may be slower in the second quarter from the previous quarter."

The European Central Bank hopes that the UK remains in the EU but "is ready for any eventuality" regarding the outcome of the June 23 referendum.

The ECB has raised the inflation estimates for the Eurozone to 0.2% for 2016 (0.1%). Confirmed at 1.3% estimate for 2017 to 1.6% and that for 2018. The Eurotower raised cut its growth forecast for the eurozone in 2016 to 1.6% (from 1.4%). For 2017 confirmed the growth to 1.7% while it was narrowed down to 1.7% from 1.8% the previous forecast of GDP for 2018.