European Central Bank Maintains Constant Interest Rates

The European Central Bank (ECB) kept interest rates unchanged on Thursday, it said in a statement.

Interest rates on main refinancing operations, marginal lending and deposit facility stand at 0.00%, 0.25%, and minus 0.5%, respectively, according to the statement by the bank.

It said that interest rates will remain at their present or lower levels until the inflation outlook rises to a level close to, but below, 2% within its projection horizon.

The bank will continue its purchasing activities under COVID-19 conditions via the pandemic emergency purchase program, which will continue until the end of March 2022, with a total envelope of €1.85 billion ($2.25 billion).

Net purchases under the asset purchase program (APP) will continue at a monthly pace of €20 billion, it noted.

The ECB also underlined that it is ready to “adjust all of its instruments, as appropriate, to ensure that inflation moves towards its aim in a sustained manner, in line with its commitment to symmetry.”

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