Interest rates ‘on hold until September 2019’

The ECB seemed set to leave its first significant interest rate hikes deep into next year as Mario Draghi gave little away at a key meeting about plans to further cut the extraordinary amount of money the central bank is pumping into the financial system.

“We maintain our forecast that interest rates will be on hold until September 2019, which is still somewhat later than markets expect,” said Jennifer McKeown, chief European economist at Capital Economics.