Mario Draghi’s habit of springing surprises means that few can say what he’ll do when European Central Bank officials decide on monetary policy today.
Inflation at a four-year low and volatile market rates speak for further action by the Governing Council, even after it cut official rates to record lows in November. At the same time, signs of economic improvement and the central bank’s prediction that price gains will gradually return to target suggest the ECB president may prefer to hold fire. That’s the call by 62 of the 66 economists surveyed by Bloomberg News, while 4 predict a cut in the benchmark rate to 0.1 percent from 0.25 percent.
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