World Business News

A round up of the latest news for those doing business internationally

Euro rate hike unlikely for at least two years

Zone(s): Europe ¦ Sector(s): Banking, Economy
[23 June 2014, CITY A.M.]  My Michael Bird: Austrian central bank chief Ewald Nowotny said this weekend that the European Central Bank (ECB) is unlikely to raise interest rates until at least 2016, as the policy of major central banks diverges. His comments follow the ECB’s easing, which reduced the Eurozone deposit rate to a negative level for the first time. Analysts have suggested the bank may turn to quantitative easing if the bloc’s inflation outlook does not improve.