ECB’s Draghi pledges rock-bottom rates as Germany calls for change

The head of the European Central Bank defended a pledge to keep interest rates at rock bottom on Thursday, batting back German calls for a speedy exit from years of easy money in the euro zone.With two weeks to go before the ECB decides on the future of its stimulus policy, its president, Mario Draghi, said the promise to maintain rates at their current level “well past” the end of its bond-buying programme was very important for keeping borrowing costs at bay.“The ‘well past’ is very, very important in anchoring rate expectations,” Draghi said at an event in Washington, where he is due to attend the G20 meeting.

Source: ECB’s Draghi pledges rock-bottom rates as Germany calls for change – Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.