November 17, 2017 / 8:48 AM / a year ago

Continued ECB bond buys key to pushing out rate hike: Draghi

FRANKFURT, Nov 17 (Reuters) - The European Central Bank’s decision to extend its bond-buying programme until September 2018 was key in pushing market expectations for the first rate hike further into the future, ECB President Mario Draghi said on Friday.

“Asset purchases matter also for the signals they entail about the path of future policy rates: the so-called ‘signalling effect’,” Draghi told a banking conference.

“The signalling effect of asset purchases has therefore naturally increased in prominence relative to the duration effect.” (Reporting By Francesco Canepa; Editing by Balazs Koranyi)

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