The European Central bank held its last policy meeting in 2014. And it seems the ECB’s new office was the biggest news, as its policy remained unchanged.
Nobody expected any rate cut, but after Mario Draghi’s statement in the European Parliament, some thought the regulator could come up with a real Christmas present. A few weeks ago, Draghi told the parliament: the ECB measures could include buying government bonds. Well…not any time soon.
Russia’s president didn’t prepare any big New Year gift for the economy either.
At his annual state-of-the nation address to parliament, Putin warned Russians of hard times ahead.
The Russian economy ministry was more precise: the economy will fall into recession.
As for the UK’s economy it won’t be able to cut its deficit, but instead, it’ll help people cut back on spending.
All that – in this edition of Business Weekly.