INTRODUCTION
The 5th of June 2014 European Central Bank (ECB) governing council meeting made the following monetary policy resolutions:
  1. "The interest rate on the main refinancing operations of the Eurosystem will be decreased by 10 basis points to 0.15%, starting from the operation to be settled on 11 June 2014
  2. The interest rate on the marginal lending facility will be decreased by 35 basis points to 0.40%, with effect from 11 June 2014.
  3. The interest rate on the deposit facility will be decreased by 10 basis points to -0.10%, with effect from 11 June 2014."
As highlighted in the article All Eyes on the 5 June European Central Bank Meeting, these measures are meant to address the low inflation and economic growth problems being faced by the euro area.
The question and answer segment of the press conference provided some interesting views. In response to the question on the strength of the Euro and the possibility of seeing the euro fall back to the initial level against the dollar at 1.17 the ECB president Mario Draghi had this to say, “the exchange rate is not a policy target, but it's very important for price stability and growth.” He also went further saying, “First, th
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