Euro up, European stocks hit 11-week low after ECB minutes released
All sectoral indices in negative territory Thursday
European stocks extended losses on Thursday following the release of minutes from the June meeting of the European Central Bank, while the euro edged up 0.2% to US$1.1375.
Europe’s Stoxx 50 and 600 indices were both down more than 1%.
The minutes showed that ECB rate setters raised the potential of dropping a pledge to extend or expand the bond-purchasing program if necessary, though policy makers said the language could be reviewed in future meetings.
“If confidence in the inflation outlook improved further, the case of retaining this bias could be reviewed,” Reuters quoted the account of the meeting as saying.
The central bank also stressed the need for “continued caution in communication,” amid concerns a move away from ultra-easy policy could upset financial markets.