Draghi Says Investors See First ECB Rate Increase by 2017

Mario Draghi said investors predict the European Central Bank will start increasing interest rates by 2017 as he pledged to expand stimulus measures if needed.

“When we look at market expectations, the first hike in interest rates is foreseen by 2017,” the ECB president said in a speech at the Brookings Institution in Washington today. “The Governing Council has repeated many times, even as it was adopting new measures: it is unanimous in its commitment to take additional unconventional measures to address the risks of a too-prolonged period of low inflation.”