Euro drops as ECB promises low rates for another year

Frankfurt am Main (AFP) – The euro fell against the dollar Thursday after the European Central Bank said it expected interest rates to remain at their current record lows until well into 2019.

The euro fell from $1.1818 to $1.1722 after the ECB’s governing council said rates would likely remain unchanged “at least through the summer of 2019”. 

The bank also said it planned to end its massive bond buying scheme by the end of the year, taking a major step towards monetary policy normalisation.