Baku. 6 March. REPORT.AZ/ The European Central Bank decided to hold a monetary expansion in the amount of 60 billion euros per month for the purchase of bonds of the state and the private sector in Eurozone. This decision was taken at a meeting of the bank held in Cyprus and will come into force on March, 9.
Report informs, the Chairman of the European Central Bank, Mario Draghi said that the process of financial support to the economy through bond purchases will continue until September 2016. If that will not be enough, the process will continue.
As a result of monetary expansion in the euro area is projected GDP growth of 1% to 1.5% this year, from 1.5% to 1.9% in 2016 and economic growth at 2.1% in 2017.
According to the analytical group of Report News Agency, monetary expansion will provoke an increase in the mass of the euro, which, in turn, will lead to a drop in its value against other currencies. This process will continue in Azerbaijan and as a result of the fall of the euro to US dollar, the parity of Euro and manat to be observed, or Euro to fall below parity.