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IMF supports ECB’s new support program

WASHINGTON, (Xinhua) — The International Monetary Fund (IMF) said Thursday it supported the European Central Bank’s (ECB) decision to support theEurozone and urged the ECB to act more to achieve its price stability goal.

“The ECB’s decision today will help address increased downside risks to the recovery,” said IMF spokesman Gerry Rice at a regular press meeting of the Washington-based global lender.

“Today’s action and its strong commitment to adjust the program if needed will help meet the price stability objective,” he said.

The IMF urged the ECB to “continue to strongly signal its willingness to act and use all the instruments available until its price stability mandate is met.”

The ECB on Thursday decided to lower the interest rate of deposit facility by 10 basis points to minus 0.3 percent. The central bank also decided to extend the asset purchase program until the end of March 2017 from September 2016.

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