ECB’s Knot: Will start discussing timing of interest rates in January

The Dutch central bank head Klaas Knot stood by the ECB’s current guidance that interest rates would remain at their current through next summer but said this was only an expectation, representing the midpoint in a collection of outcomes.

Key quotes:

   •  Holds the possibility of other outcomes to the left or the right of that point.
   •  ECB will start discussing the timing of an interest rate hike in January.
   •  The outcome of that debate is still open.
   •  We are very comfortable with our choice of words.