Markets expect ECB rates to stay low for a long while yet

THE long period of monetary easing appears to be coming to an end, apart from in Japan.

The US Federal Reserve has embarked on a path towards policy normalisation, while rates were hiked in Canada and the Czech Republic over the summer.

Rates appear to have troughed elsewhere, with the ECB likely to wind down its quantittaive easing (QE) purchase programme next year.