At a Washington event yesterday, ahead of a G20 meeting, pledged to keep interest rates at their current ultra-low level until ‘well past’ the end of its bond-buying programme. ‘The well past is very, very important in anchoring rate expectations’. Earlier in the day the head of the German Bundesbank, Yens Weidmann had said that current ultra-low rates ‘must not last too long and, in an economic upturn, the monetary policy taps must be turned off in a quick and consistent manner’.
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