- European Central Bank
The ECB's official account of the last policy meeting showed the central bank may change the pace of its unprecedented bond-buying programme. While Governing Council members currently consider the scope of the quantitative-easing programme appropriate, this assessment may change over time as the latest economic estimates are surrounded by higher-than-usual uncertainty. The ECB predicted consumer prices would remain unchanged this year before climbing to 1.8% in 2017. GDP in the Euro zone was projected to grow 1.9% in 2016 and 2.1% in 2017. The central bankers shared the view that significant positive effects from the monetary policy decisions taken on 22 January 2015, could already be seen, the ECB said in its second account of their policy deliberations.
Meanwhile, Greece proposed its most comprehensive reform plan to its creditors during teleconference talks with the Euro Working Group, but has yet to receive any remaining bailout funds. The plan consists of a 26-page list of reform proposals covering taxation, privatisations, public sector, labour market, healthcare, and etc. The proposals were discussed by the Euro Working Group; however, there was no real breakthrough resulting in unlocking any bailout funds Greece.
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