Skip to content
Subscriber Only

Draghi Unheeded as ECB Minutes Prompt New Bets on 2018 Hike

  • Investors react to hawkish views in December policy meeting
  • Debate in past month has been led by calls to set QE end-date
Video player cover image
"The stars have aligned for a stronger euro this week," says Valentin Marinov of Credit Agricole.Source: Bloomberg
Updated on

The European Central Bank is again struggling to get the message across to markets that any unwinding of stimulus will be slow and steady.

The euro soared, bonds slid and investors this week stepped up bets that interest rates will rise before the end of 2018, disregarding President Mario Draghi’s assurances that no such thing will happen until well after asset purchases -- scheduled until at least September -- come to a halt.