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ECB President Mario Draghi has warned of market risks as Britain's exit from the European Union (BRICCET) approaches an agreement.
According to the German, "not reaching an agreement because the date on which Britain leaves the European Union" means that "the private sector will be forced to prepare for a brutal exit of Britain from the European Union".
The ECB president added that this would cause "turmoil" in the markets and between financial institutions.
The ECB kept its monetary policy unchanged, as planned yesterday, to end bond purchases by the end of December and raise interest rates sometime after next summer.
As inflation picked up and growth continued for five years, the European Central Bank put an end to stimulus for most of the year, despite recent signs of loss of growth. and the prospects are increasingly threatening.
But as the European Central Bank has already exhausted most of its energy, it is difficult for the bank to extend its economic stimulus package, a major shock and not a gradual slowdown this year.
The ECB has also made no change to its monetary policy outlook, which it defined in June and remained virtually unchanged in several meetings.
"The Governing Council expects the ECB to keep interest rates at current levels, at least until the summer of 2019," the bank said, reiterating its estimates.
The ECB kept the deposit rate overnight, the key rate at -0.40%.
The main refinancing rate, which determines the cost of credit in the economy, remained unchanged at zero percent, while the marginal lending facility, the overnight overnight financing rate, remained unchanged at 0.25%.
Mr Draghi also said he was confident that an agreement could be reached to end the confrontation between Italy and Brussels over the Rome project of increasing its budget deficit.
The Economic Affairs Commissioner of the European Central Bank, Valdis Dombrovski, told a meeting of the bank's governing council that Brussels should impose financial rules, but also wanted a budget dialogue with the populist government Italian.
However, Draghi warned that this could be reflected in the markets due to deadlock on the Italian budget.
Deputy Prime Minister and Italian Interior Minister Matteo Salveni said yesterday that his country would not ask Russia or any other foreign partner to buy its sovereign debt in order to avoid a possible financial crisis.
Borrowing costs have increased in Italy since its populist government announced its intention to defy fiscal discipline in the euro area by increasing the budget deficit, which has resulted in a major confrontation with the European Commission.
"The budget will bring stability and calm to Italy," Salveni said on the sidelines of the Euro-Asian Economic Forum in Verona, northern Italy.
Asked if the Russian sovereign fund could start buying Italian debt, a possibility raised on Wednesday during the visit of Italian Prime Minister Giuseppe Conte to Russian President Vladimir Putin in Moscow, Salveni said the budget was designed to meet the needs of the Italian people and not to calm the financial markets.
Salveni, who heads the party of the far right, believes that it is necessary to adapt to this reality.
At the start of the conference, the Italian minister reiterated his opposition to EU sanctions against Russia, repeatedly criticizing them for damaging Italian exports. "In 2018, we do not need sanctions, we do not need tanks," he said.
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