ECB leaves rates unchanged as Draghi bows out

Thursday's (24 October) meeting saw the governing council of the ECB opt to keep its key interest rate at a continental all-time-low of -0.5%, while it announced QE will resume at a monthly rate of €20bn as of 1 November.   The ECB said it expects net purchases "to run for as long as necessary to reinforce the accommodative impact of its policy rates, and to end shortly before it starts raising the key ECB interest rates". Draghi leaves his post at the end of October as the first ever ECB president to leave the bank without having once raised interest rates. Artur Baluszynski, head...