A return of quantitative easing (QE) in the eurozone remains a near-term probability, commentators have said, as the European Central Bank (ECB) pledged to keep interest rates at 0% for the next 12 months.
The ECB's governing council said on Thursday it expects interest rates to "remain at their present levels at least through the first half of 2020", and "for as long as necessary to ensure the continued sustained convergence of inflation to levels that are below, but close to 2% over the medium term". That means the interest rate on the main refinancing operations will stay at 0.00%, with the interest rates on the marginal lending facility and the deposit facility remaining at 0.25% and -0.40% respectively. Justin Urquhart Stewart: Why cash is not king The third incarnation of its t...
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