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ECB Monthly Report: Economic activity to recover gradually in H2 2013

FXstreet.com (Barcelona) - February's ECB Monthly Report includes information on the latest ECB meeting during which the Governing Council decided to leave the rates unchanged at 0.75%.

The Council expects inflationary pressures to remain contained over the medium term. They note that economic activity in the Eurozone continues to be weak but that it should recover gradually in the second half of the year, benefiting from a recovery in global demand and improvements in financial markets.

To support the recovery the ECB will maintain its accomodative monetary policy for as long as necessary and it will “monitor very closely all incoming information on economic and monetary developments and assess any impact on the outlook for price stability.”

The Governing Council also urged EU Member States to carry on with structural reforms, including the implementation of the banking union, in order to stimulate competitiveness and growth and reduce deficits.

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