ECB left the stakes unchanged again

The European Central Bank has kept the main refinancing rate unchanged – at zero level. The deposit rate remained at the level of minus 0.4%. According to the economists, the program of buying bonds will end this year. Most of them still expect that the rate will rise only in the second quarter of 2019. However, some analysts began to note possible risks of postponing the tightening of the ECB monetary policy. They believe that any strong slowdown in the growth of the euro area economy in the future could lead to the fact that ECB will postpone the curtailment of the program of buying up assets for a later period.