Oliver Mangan: Interest rate hikes to remain a long way off

ECB rates are not expected to start to be raised until 2024, while in the US, Fed hikes are not expected until early 2023

ECB chief Christine Lagarde is expected to strike a dovish tone at the bank's governing council meeting later this week.

Much of the market’s focus over the summer has been on when the US Federal Reserve (Fed) will make an announcement about beginning to taper — or scale back — asset purchases under its quantitative easing (QE) programme.

We are certainly getting closer to an announcement, but it looks as if the European Central Bank (ECB) will beat the Fed to the draw at its upcoming governing council meeting on Thursday.