– It’s been four years since the phrase Mario Draghi “It is to save the euro, whatever the cost” , a phrase that has remained well-etched in the history of financial markets. Since that day, the governor of the European Central Bank has been appreciated, but also objected to the measures carried out: from lowering rates at Quantitative easing. Here all measures of Draghi year to year.
July 5, 2012 – the ECB port for the first time the reference rates below 1%, lowering them by 25 basis points to 0.75%. And, for the first time, rates on deposits fall to zero.
July 26, 2012 – Draghi in London reassures the markets, the ECB will undertake all measures to defend the euro .
September 2012 – The European Central Bank President announces in detail the OMT (Outright Monetary Transactions), the “anti-spread” shield that will be brought before the European Court after appeal economist Markus Kerber.
May 2, 2013 – Draghi has once again hand to interest rates, another cut of 25 basis points to 0.50%.
November 7, 2013 – In six months Draghi updates records with a new cut in interest rates, that go down to 0.25%.
June 5, 2014 – Even a cut and the reference rate falls to 0.15%. But, above all, for the first time the deposit rates fall below zero.
August 22, 2014 – Mario Draghi, from Jackson Hole, still reassures markets after the crisis of sovereign debt is risk recession is added: Frankfurt, said by bankers forum central, stands ready to adjust its monetary policy and to act to support the economy even beyond the measures already announced in June, ie the purchase of Abs and maxi-long-term loans and Tltro after lter provide liquidity to banks, and therefore to companies.
September 4, 2014 – further to snip rates coming down to 0.05%. On deposits at -0.2%.
October 2, 2014 – The President announced that the Eurotower, the ECB has deployed through purchases of ABS and covered bonds, “measures potential up to 1,000 billion euro. “
January 22, 2015 – Draghi launches Quantitative Easing, a securities purchase program by 60 billion euro per month by next March for at least 18 months.
October 9, 2015 – the ECB governor says he is ready with a statement of Twitter at the IMF meeting in Lima, to “use all available tools “to revive growth.
December 3, 2015 – Here’s QE2. The deposit rates fall to -0.3%, the bond purchases are extended to March 2017, also the debt of local authorities it becomes part.
March 10, 2016 – There comes a QE3. The reference rate drops to 0%, the deposit rate to 0.4%, the bond purchases go up to 80 billion a month, and it will also include those of companies with “investment grade” rating. And the purchase limit of one issue rises from 33% to 50%.
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