The European Central Bank pushed out the timing of its first post-crisis rate hike to next year at the earliest on Thursday and offered banks new ...
FRANKFURT: The European Central Bank pushed out the timing of its first post-crisis rate hike to next year at the earliest on Thursday and offered banks new rounds of multi-year cash.
"The Governing Council now expects the key ECB interest rates to remain at their present levels at least through the end of 2019, and in any case for as long as necessary," the ECB said in a statement. "A new series of quarterly targeted longer-term refinancing operations will be launched, starting in September 2019 and ending in March 2021, each with a maturity of two years," the ECB said."Under TLTRO-III, counterparties will be entitled to borrow up to 30 percent of the stock of eligible loans as at 28 February 2019 at a rate indexed to the interest rate on the main refinancing operations over the life of each operation," the ECB said.
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