Impressive growth but no rush to hike interest rates

Last week’s meeting of the ECB Governing Council saw no changes to its key interest rates.

These were left at –0.4% for the deposit rate and 0% for the refi rate.

Meantime, the ECB’s monthly asset purchases under its quantitative easing (QE) programme were also left unchanged, having been cut from €60 billion to €30bn per month at the start of the year.