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ECB in 'wait and see' mode about rate hikes - Nowotny

Reuters  |  ZURICH 

(Reuters) - The will take a "wait and see" approach to any tightening of after it keeps negative rates on hold through the summer of 2019, member said on Monday.

The ECB decided month to end its 2.6 trillion euro bond purchase programme by the close of the year but said rates would stay unchanged at least until next summer, a wording that pushed back rate hike expectations by three months to September 2019.

Nowotny told a financial seminar in that ECB had said at the time the would not prejudge the timing of any rate hike. "He said wait and see and I think this is the answer we have to give for this," Nowotny said.

(Reporting by John Revill; Editing by Michael Shields)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, July 09 2018. 17:26 IST
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