Oil at $30 may spur ECB to loosen and delay Bank of England hike

Forecasts come as analysts predict prices could fall to as low as $20 a barrel

Fresh oil price weakness has lowered the bar for further ECB easing while the Bank of England is now less likely to raise rates as soon as May, economists say.

The forecasts came yesterday as Rothschild deputy chairman Paolo Scaroni said it will be “many years” before prices rise above $50 again and oil companies may need to react by cutting their dividends, he said.