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ECB will say goodbye to quantitative easing, but when will it hike rates?
The European Central Bank is fully expected on Thursday to affirm its plan to end its bond-buying program at year-end. But investors expect less clarity when it comes to signaling when Mario Draghi and fellow policy makers will move to nudge up ultra-low interest rates. “We expect no new guidance on a first rate hike,” said Piet P.H. Christiansen, senior ECB/euro area analyst at Danske Bank, in a note. The ECB’s policy statement is expected to retain its commitment to keep rates at present levels at least through the summer of 2019. The ECB’s key lending rate, known as the refi rate, stands at 0%, while the ... (full story)
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Patience is key