The European Central Bank (ECB) will continue to reinvest funds from the redemption of securities. Shares were bought back as part of a quantitative easing program (QE), which ended in late 2018. ECB advisers expect interest rates to remain unchanged until the end of the summer of 2019. In any case, as long as the rate of inflation in the European Union is about 2% and below, the key rate will remain at the current level. The situation will be clarified by the press conference of the ECB Head, Mario Draghi, which can give investors signals about the possibility of liquidity injections. According to forecasts, the ECB will offer banks long-term targeted loans this year. The current four-year TLTRO loans will end in June next year, but banks will need funding in mid-2020.
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