Moody's forecast policy rates to approach
1% for European Central Bank (ECB)
2% for Bank of England (BoE)
3% for the US federal reserve by 2021
Moody's add:
- rising interest rates are unlikely to hurt European companies' profits, cash flows in medium term
- Rising European interest rates could also reduce IFRS 16 lease liability for many companies when adopting new accounting standard in 2019