Welcome AccessNorthGa.com
 Top Stories
  Severe Weather
  Bird Flu
  Mideast Crisis
 Personal Finance
  Sports Columns
  College Hoops
 Raw News
 Archive Search
 Multimedia Gallery
 AP Video Network
 in History
Mar 8, 9:08 AM EST

The Latest: ECB's Draghi concerned by potential US tariffs

AP Photo
AP Photo/Michael Probst

A district summary of the Beige Book
Measuring economic stress by county nationwide
Mall malaise: shoppers browse, but don't buy
Unemployment by the numbers
Family struggles with father's unemployment
Saying an affordable goodbye
Hard times hit small car dealer
Latest Economic News
Bank of England keeps rates on hold and hints at May rise

The Latest: Pound stays strong after UK rate hike hint

The Latest: UK rate hike in May more likely amid Brexit deal

Bank of England keeps rates on hold but hints at May rise

German panel ups growth forecast but warns on trade war

German pensions to rise by more than 3 percent this year

Trade war fears weigh on investor sentiment in Germany

China's premier appeals to US to 'act rationally' over trade

China's next economic czar: Harvard-trained Xi adviser

WTO chief: If not for body, there would already be trade war

Greece's Debt Threatens to Spread
State budget
gaps map
Auto industry problems trickle down, punish Tennessee county
Women give old Derby hats a makeover in tough economy
S.C. town deals with highest unemployment in South
How mortgages were bundled and sold as securities
Tracking the $700 billion financial bailout
Tracking the year's job losses
State-by-state foreclosures since 2007
Credit crisis explained
Presidents and their economic legacies
Lexicon of the financial crisis
Americans' addiction to debt

FRANKFURT, Germany (AP) -- The Latest on the European Central Bank's monetary policy meeting (all times local):

3:05 p.m.

European Central Bank head Mario Draghi has expressed concern about U.S. President Donald Trump's announced trade measures, saying the immediate spillover "is not going to be big" but that "unilateral decisions are dangerous."

He told a news conference Thursday that trade disputes should be resolved in multi-lateral negotiations, such as in the World Trade Organization.

Draghi said the most important aspect of any potential tariffs would be the impact on economic confidence, which is "difficult to assess." He said that a drop in confidence would also hurt economic output and inflation.


2:00 p.m.

The euro has jumped higher after the European Central Bank hinted that it is closer to exiting its extraordinary monetary stimulus effort.

The euro rose from $1.2379 before the bank issued its policy statement to as high as $1.2425.

The bank dropped a promise that it could increase its bond purchase stimulus if the economy worsens. That was seen as a step toward ending the 30 billion euros ($37 billion) per month in bond purchases that pump newly printed money into the economy in an effort to support growth and inflation.

The bank has said the purchases will continue at least through September but has given no fixed end date.

Such monetary stimulus tends to weaken a currency, so a hint that an exit is coming tends to send the euro higher.


1:45 p.m.

The European Central Bank has tweaked its main monetary policy statement - a hint that it is getting closer to withdrawing a key economic stimulus program.

The bank on Thursday left its key interest rates on hold as well as the size of its bond-buying stimulus program. But in its statement it omitted an earlier promise that it could increase its bond-purchase stimulus in size or duration if the economic outlook worsens.

Economic growth of 2.7 percent year on year in the fourth quarter has made that promise increasingly outdated.

The bank has said it will continue buying 30 billion euros ($37 million) in bonds per month through September and longer if needed - but has given no precise end date.

Stimulus withdrawal could mean a stronger euro versus the dollar, higher returns on savings and stiffer borrowing costs for indebted governments in the 19-country eurozone.


11:40 a.m.

Markets are waiting to see whether the European Central Bank will drop any hints about when its economic stimulus will end.

ECB President Mario Draghi is to hold a news conference after a meeting Thursday of the bank's 25-member governing council.

The bank isn't expected to change its stimulus programs, but investors are watching to see if it drops a promise to ramp up stimulus if needed. Removing that promise would be a small signal that the bank is closer to exiting its stimulus.

The bond-purchase stimulus has been pumping newly created money into the eurozone economy since March, 2015. The ECB has said purchases will continue at 30 billion euros ($37 billion) monthly at least through September.

A stimulus exit would likely send interest rates and the euro higher.

© 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy and Terms of Use.