KOF Monetary Policy Communicator (MPC)

02.06.2016 | Medienmitteilung

The KOF MPC figure for 2 June 2016 is -0.30. At today’s meeting, the ECB decided to keep all key ECB interest rates unchanged. 

According to Eurostat’s flash estimate, euro area annual HICP inflation was -0.1% in May, up from -0.2% in April. This outcome mainly reflects higher energy and services price inflation. Inflation rates are expected to remain very low or negative in the coming few months before increasing in the second half of 2016. Eurosystem staff macroeconomic projections foresee annual HICP inflation at 0.2% in 2016, which is a slight upward revision compared with the March 2016 projection. This also mainly reflects the recent increase in oil prices. The outlook for inflation remains unchanged for 2017 and 2018, standing at 1.3% in 2017 and 1.6% in 2018. On 8 June purchases under the new corporate sector purchase programme (CSPP) will start. Moreover, starting on 22 June 2016, a new series of targeted longer-term refinancing operations (TLTRO II) will commence.

Current ECB holdings of securities for monetary policy purposes amount to 1,134bn euros (end of April: 1060bn euros).

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