While the ECB has ended its net asset purchases, it plans to reinvest funds from maturing securities for a long time to come and has stressed that any future rate hikes will depend on a build-up of inflationary pressure. We are still pencilling in a first hike in September, but the chance of a delay has risen.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.