欧美文化:ECB sticks to stimulus wind-down timeline

FRANKFURT, April 14 (Xinhua) -- The European Central Bank (ECB) left interest rates unchanged on Thursday and said that it would stick to its plan to wind down stimulus policies.

The bank reiterated that "any adjustments to the key ECB interest rates will take place sometime after the end of the Governing Council's net purchases under the Asset Purchase Program (APP) and will be gradual."

It said that the monthly net purchases under the APP will be 40 billion euros (43.1 billion U.S. dollars) in April, 30 billion euros in May and 20 billion euros in June. It also confirmed that the net asset purchases would be concluded in the third quarter of this year.

The ECB fell short of elaborating on the time gap between the end of the net purchase and a possible interest rate hike.

Inflation in the 19-member eurozone keeps surging, hitting a new record high of 7.5 percent in March. The ECB blamed the rising energy prices, which are 45 percent higher than in the same period last year, for the price hikes.

The ECB Governing Council "will take whatever action is needed" to fulfill its mandate "to pursue price stability and to safeguard financial stability," ECB President Christine Lagarde said in a statement at a press conference following the Governing Council meeting on Thursday.

"We stand ready to adjust all of our instruments within our mandate, incorporating flexibility if warranted, to ensure that inflation stabilizes at our 2 percent target over the medium term," she said. (1 euro = 1.08 U.S. dollar)