European Central Bank Maintains Constant Interest Rates

Bank to continue purchasing activities under pandemic conditions until at least end of March next year.

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." -