Wednesday's benchmark rate hike by the US central bank has gone down well with Asian and European markets. Stocks went up Thursday on the Fed's move, with analysts hoping that further rate increases would be communicated well in advance.
The US Federal Reserve is starting a two-day review of its monetary policy. Markets expect the third interest rate increase since December 2016 at its conclusion.
ECB chief Mario Draghi is expected to highlight the euro area's strengthening economy while underlining the need for caution as the bank inches toward ending its stimulus. But interest rates will not rise anytime soon.
Germany's benchmark 10-year bond yield has made its biggest weekly jump since December 2015. Borrowing costs across the eurozone and beyond also rose as investors prepare for an end to the period of easy monetary policy.
The American central bank has made no change in the US benchmark interest rate and downplayed recent weak economic growth - an indication it will remain on course for gradual rate hikes.
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