Draghi went out of his way to stress the ECB will be “prudent” when timing its first rate hike in eight years.
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Behind a "facade of optimism," European Central Bank officials are growing increasingly concerned that a looming trade war could derail the eurozone's recovery and complicate its exit from years of easy money, central banking sources told Reuters.Conversations with high-ranking officials and policymakers suggested the growing fears of a trade war waged by U.S. President Donald Trump's administration against its main trading partners were casting a shadow over the economy and the ECB's own policy path.Draghi went out of his way Tuesday to stress the ECB will be "prudent" when timing its first rate hike in eight years in the autumn of 2019, and any further hike will be "gradual".The ECB already expects the eurozone economy to slow over the next three years, growing by 2.1 percent this year, 1.9 percent the next and 1.7 percent in 2020 .
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