The European Central Bank pushed back the timing of its first post-crisis interest rate hike again last week and said it would continue paying banks for lending in its latest effort to revive a slowing eurozone economy. ECB President Mario Draghi said policymakers had addressed the ECB's readiness to act in case of "adverse contingency" and several had raised the possibility in Thursday's discussion of further interest rate cuts or restarting asset purchases. The moves come as a trade war between the US and China overshadows the global economy and especially export-oriented eurozone countries such as Germany.
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