Economic news
ECB Ends Net Bond Buys, Sees 25 BP Rate Hike in July
2022.06.09 14:56
By Geoffrey Smith
Investing.com — The European Central Bank resisted pressure to speed up its planned exit from negative interest rates on Thursday saying that it expects to raise its key rates by only 25 basis points in July and another 25 in September.
As expected, the Frankfurt-based central bank also confirmed that it will formally stop its net asset purchases at the end of the month, ending a policy that has been in place for almost all of the last seven years.
The euro rose initially but quickly reversed after the news, and was trading little changed at $1.0727 by 7:50 AM ET (1150 GMT).
