The members of the European Central Bank (ECB) board largely agreed in June that the eurozone economy needs more stimulus measures. However, the members were not unanimous in this conclusion. This is stated in the minutes of the ECB’s monetary meeting in Vilnius last month. “There was broad agreement that the ECB should be ready to provide incentives if the current uncertainty about the economic situation persists,” said the minutes. Nevertheless, some board members preferred the option of only easing monetary policy if the economic risks actually turn out badly. President Mario Draghi said in June that the ECB is considering reducing interest rates further. A purchase program was also mentioned as a possibility. The ECB members meet again at the end of July and can then change the course of monetary policy. The US central bank also seems to be increasingly open to a possible interest rate cut.
