Mario Draghi faces one of the most contentious policy meetings of his European Central Bank presidency on Thursday as he prepares to ramp up monetary stimulus again despite skepticism from the euro area’s biggest economies.
European Central Bank
European Central Bank (ECB) said it would Delay its First Post-Crisis interest Rate Hike until at Least the Middle of Next Year.
Gold Silver Reports (GSR) – The euro climbed higher against the U.S. dollar on Thursday, after the European Central Bank (ECB) said it would delay its first post-crisis interest rate hike until at least the middle of next year. In a move that was well-flagged, ECB President Mario Draghi also offered to pay banks if they borrow cash from the central bank and pass it on to households and firms.
Fed is Expected to Raise Interest Rates Wednesday
The Fed is expected to raise interest rates Wednesday by a quarter point, and the pressure is on for Fed Chairman Jerome Powell to sound dovish — but not too dovish. Fed officials are also expected to revisit their fed funds rate forecasts and roll back some of the rate hikes expected in the next several years.
ECB’s Nowotny: We Expect Positive Economic Outlook To Continue But Risks Exist
ECB’s Nowotny: Asked About Latest GDP Figures, Has Not Seen Anything That Would Require An Adjustment Of Monetary Policy Outlook
ECB Still Sees Bond Buying Phased Out as Rates Stay on Hold – Gold Silver Reports
The Frankfurt-based institution said it will buy 15 billion euros ($17 billion) of assets a month from October to December, and that a decision to halt the program after that continues to be contingent on incoming economic data. Policy makers reiterated that interest rates will remain at their present record lows “at least through the summer” of 2019.