ECB says 'interest rates will remain at historic lows until late 2019'

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ECB says 'interest rates will remain at historic lows until late 2019'
23:23 Thursday 13th of September 2018

The European Central Bank (ECB) has today announced it will leave its benchmark interest rates unchanged and expects them to remain at present levels "at least through the summer of 2019".

The ECB has also confirmed it is reducing the size of its monthly bond-buying stimulus program from €30billion to €15billion, and anticipates the buying will end in December this year.

Padraig O’Riordan, Stockbroker at the Cork office of stockbroking firm Redmayne Bentley, said: “The ECB has lowered its forecasts for eurozone economic growth due to global trade uncertainty."

Mr O'Riordan said:“The threat of protectionist tariffs, emerging markets remaining volatile after the crisis in Turkey, plus the possibility of the UK and EU not agreeing a trade deal are all contributing to uncertainty.While the monthly bond buying programme is being reduced, the economic backdrop will ensure that interest rates will remain at historic lows until late 2019.”

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