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ECB patient and gradual with rate hikes, Draghi says

The European Central Bank will be patient in tightening policy further, ECB President Mario Draghi said on Tuesday, adding that market pricings for its first post-crisis rate hike were consistent with its aim to move gradually.The ECB decided last week to end its 2.6 trillion euro bond purchase programme by the close of the year but said interest rates would stay unchanged at least through next summer, a wording that pushed back rate hike expectations by three months to September 2019.But uncertainty is rising as the threat of a global trade war looms, while a rise in inflation is still far from certain as higher wages may not translate into faster price growth, Draghi told the ECB?s hallmark policy forum in Sintra, Portugal.
Source: Latest News

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