ECB may raise interest rates

The European Central Bank ECB, could raise interest rates for the first time since 2011.

The bank, which has already closed out its bond-buying stimulus programme, has signalled no increase in rates before the fall. That leaves it open as to whether it will be ECB President Mario Draghi or his successor will lead the decision-making on the timing of a first rate move.

Higher rates could increase consumer and business borrowing costs and improve returns for savers. The first rate increase could be postponed, however, if the economy looks weak.