Draghi Says Unlimited Cash Through 2016 Is Rate Signal

Mario Draghi indicated that the European Central Bank’s interest rates will probably remain low for at least another 2 1/2 years.

“We have prolonged banks’ access to unlimited liquidity up to the end of 2016. That is a signal,” the ECB president said in an interview published in Dutch newspaper De Telegraaf on June 21, responding to a question on how long rates will stay low. “Our program in support of bank lending to businesses will continue for four years. That shows that interest rates will remain low over a longer period. But thereafter they will increase when the recovery will firm up.”