"With annual inflation in the euro area down to 0,4 percent, the deflation risk today is higher than ever. This might put our fragile recovery in jeopardy," the Italian S&D MEP (member of the European Parliament) and the new chairman of the EP's Economic and Monetary Affairs Committee Roberto Gualtieri said in a statement.
"The euro area clearly needs bolder action both as regards price stability and also in view of stimulating demand. We cannot afford to wait any longer when other monetary areas are seeing increases in growth and employment and are likely to stop monetary easing. We need action now, not within months," he added.
The Governing Council of the ECB met on Thursday and decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.15 percent, 0.40 percent and -0.10 percent respectively.
