Yesterday, the ECB announced, as expected, that the most important interest rate in the eurozone would remain at 0.0 percent. The purchase of bonds with a billion dollars is halved from October.
This corresponds to the exit scenario from crisis mode, as ECB president Mario Draghi outlined months ago. The most controversial quantitative easing measures (QE), in which the ECB poured billions into the market by buying up government bonds and corporate bonds, will expire by the end of the year. As a step in this direction, transactions are halved from October to 15 billion euros. The program, which was originally active since 2015, amounted to 60 billion euros, but has already been cut by 30 billion euros per month.
The transition to normality in the interest rate policy should be slower. Higher interest rates are not expected until the end of 2019. The main interest rate has been 0.0 percent since March 2016. And there he remains the sadness of many savers. Debtors, on the other hand, benefit from the lower financing costs.