By some calculations, the central bank will have trouble keeping its promise to maintain the debt purchases at least until March 2017. The program has succeeded in pushing down interest rates, in some cases below zero. Advertisement Continue reading the main storyThat’s a problem for the European Central Bank, which is in charge of bank supervision across the eurozone. The central bank has tried that before, but it was blocked by the European courts. So when Mario Draghi, the president of the European Central Bank, and the bank’s Governing Council met on Thursday, they held interest rates steady — the benchmark rate was kept at zero — but there were still plenty of issues to address.

Source: International New York Times July 21, 2016 10:52 UTC