The European Central Bank this year will be gradually "exit"

As the global financial crisis is over, 16 countries in the euro area's financial system is gradually returning to normal operation. Economists generally agree that the 2010 European Central Bank will gradually implement the exit in the second half of the projected measures will start rate hike cycle, so that the financial system liquidity gradually returning to normal levels.

The European Central Bank will be held on 14 April 2010 for the first time, the interest rate decision. Although unanimously of the view that the European Central Bank also does not change the current 1% of the benchmark interest rate level, but in general it is expected that the ECB President Trichet will perform exit policy more firmly. According to a recent pengboshe survey, most experts expect the European Central Bank in the third quarter of 2010 will be maintained until 1% benchmark interest rate, by the end of the interest rate will be increased to 1.5% and two quarter 2011 further raising it to 1.75% and 2%.

While in the third quarter of this year benchmark interest rates before may remain unchanged, but the ECB in the financial crisis period a large number of injecting liquidity measures will in the next few months gradually expire, when the European Central Bank may stop the implementation of these measures, which will cause a large number of bank system liquidity.

Economic circles in general it is expected that the European Central Bank in the first half of 2010 the stimulation phase out measures for the second half will start after the start of a new round of rate hike cycle, achieving economic began to recover.

In fact, to date, the European Central Bank's exit measures has gradually started to commercial bank loan than a crisis has significantly shrunk. According to statistics, as of the end of 2009, the European Central Bank's local currency lending to banks amounted to more than 13% decline in the beginning of the year.