ECB Leaves Rates Unchanged

At today’s meeting the Governing Council of the European Central Bank (ECB) decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25% and -0.40% respectively. The Governing Council expects the key ECB interest rates to remain at their present levels at least through the end of 2019, and in any case for as long as necessary to ensure the continued sustained convergence of inflation to levels that are below, but close to, 2% over the medium term.

The Governing Council intends to continue reinvesting, in full, the principal payments from maturing securities purchased under the asset purchase programme for an extended period of time past the date when it starts raising the key ECB interest rates, and in any case for as long as necessary to maintain favourable liquidity conditions and an ample degree of monetary accommodation.

The President of the ECB will comment on the considerations underlying these decisions at a press conference starting at 14:30 CET today.

You May Also Be Interested In

• Change in Nonfarm Payrolls (Jul) -23K vs 80K Expected, Unemployment Rate 4.1%
• Canada Holding Intense Talks With United States To Avoid Additional Tariffs Being Imposed On Aug 19 - Source Directly Familiar With Negotiations - Reuters
• BofA sees selective currency volatility plays ahead of Fed hikes