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Bloomberg: EUFN
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Euro Rises As ECB Pushes Back Rate Hike Deadline

Eray Bekir

The euro climbed higher against the U.S. dollar on Thursday, after the European Central Bank (ECB) said it would delay its first post-crisis interest rate hike until at least the middle of next year.

In a move that was well-flagged, ECB President Mario Draghi also offered to pay banks if they borrow cash from the central bank and pass it on to households and firms.

Trade tensions and fears of a global recession have put markets in a state of flux this week, with market participants increasingly hopeful ECB President Mario Draghi could signal a late burst of monetary support before his term ends in October.

The central bank said interest rates on its marginal lending facility and deposit facility would remain unchanged at 0%, 0.25% and -0.40%, respectively. These have been at record lows following the euro sovereign debt crisis of 2011 in an effort to boost inflation and stimulate growth.

Source: www.cnbc.com



International Financial Markets Department

Euro-Finance Ltd.



*This material should not be considered as a recommendation for buying/selling securiti