ECB Leaves Guidance Unchanged as Anticipation for Autumn Builds
- Economists were split on whether ECB would change QE language
- Draghi due to speak to journalists at 2:30 p.m. in Frankfurt
ECB Holds Steady on Interest Rates, QE Language
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The European Central Bank deferred the delicate decision of how and when to venture the next step toward policy normalization until later this year.
The Governing Council repeated that it expects borrowing costs to stay at present levels for an extended period of time and that it is prepared to increase the size or duration of the asset-purchase program should the economy take a turn for the worse. Economists in a Bloomberg survey published earlier this week were split as to whether the ECB would revise its language on quantitative easing. The attention now turns to Draghi’s press conference at 2:30 p.m. in Frankfurt.