April 6, 2017 / 7:55 AM / 5 months ago

ECB's top economist upholds policy plan against rate speculation

European Central Bank Executive Board member Peter Praet speaks during a meeting in Madrid, Spain, March 27, 2017.Juan Medina

FRANKFURT (Reuters) - The European Central Bank's chief economist upheld the bank's stated policy plan on Thursday, effectively pushing back market speculation that the ECB might consider raising interest rates before ending its bond purchases.

"This forward guidance implies a sequencing between the interest rate policy and the quantitative policy that can most efficiently internalize and exploit the intimate complementarities between these two key components of our current stance," Peter Praet told an audience in Frankfurt.

Reporting By Francesco Canepa, editing by Larry King

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