The European Central Bank appears to be preparing to change significantly its approach on interest rates, jettisoning the idea of further cuts in negative rates and signaling a possible rise ahead of a gradual decline in its monthly “quantitative easing” asset purchases over the next year. The change in the ECB’s “forward guidance” on interest rates could come as early as the next meeting of the governing council on Thursday. This would represent a compromise between the more hawkish views of a minority on the 25-person council, led by Germany’s Bundesbank, and the majority faction under Mario Draghi, the ECB ... (full story)