ECB pushes back rate hikes as economy slows
London (CNN Business)It’s official: Mario Draghi has missed his chance to raise European interest rates.
The president of the European Central Bank steps down in October after eight years. A sharp slowdown in the region’s economy has killed off any chance of a first rate hike during his term.
The European Central Bank said on Thursday it expected rates to remain at record low levels at least through the end of 2019. It also announced a series of new cheap loans for banks.
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