The European Central Bank’s next monetary-policy move will be a non-standard one, economists say.
While almost three in four of them predict President Mario Draghi will unveil new liquidity measures such as longer-term refinancing operations, the majority of forecasters say interest rates will remain unchanged through the first half of 2015, according to separate surveys by Bloomberg News.
The ECB, which has kept its benchmark interest rate at a record low of 0.5 percent since May, is assessing its options for underpinning the euro area’s nascent recovery as banks remain hesitant to lend. Draghi has fueled expectations of a fresh round of long-term loans by saying the ECB is “ready to act accordingly and as needed” to contain money-market rates.
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