While keeping its key interest rate unchanged – and negative – at yesterday’s rate-setting meeting the European Central Bank decided to halve to €30 billion the assets it will buy monthly. However, this exercise will continue through to September 2018, longer than originally planned and possibly even longer if judged necessary, something that might be described as downsizing rather than ending Quantative Easing. Mario Draghi also said that the key rate will remain at current levels after QE has ended and that he had ‘growing confidence in the gradual convergence of inflation rates towards our inflation aim’.
To continue reading, register today
to enjoy limited access to the following:
- Daily trading news
- Funds coverage
- Features on big investment themes
- Comprehensive companies coverage
- Economic analysis