The ECB leaves interest rates unchanged
ECB decided to to stay on hold with all key interest rates.
- Main refinancing rate 0.0%
- Deposit rate -0.4%
- Marginal lending rate 0.25%
- QE €60bn per month vs €80bn prior
27 April 2017
At today’s meeting the Governing Council of the 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 continues to expect the key ECB interest rates to remain at present or lower levels for an extended period of time, and well past the horizon of the net asset purchases.
Regarding non-standard monetary policy measures, the Governing Council confirms that the net asset purchases, at the new monthly pace of €60 billion, are intended to run until the end of December 2017, or beyond, if necessary, and in any case until the Governing Council sees a sustained adjustment in the path of inflation consistent with its inflation aim. The net purchases will be made alongside reinvestments of the principal payments from maturing securities purchased under the asset purchase programme. If the outlook becomes less favourable, or if financial conditions become inconsistent with further progress towards a sustained adjustment in the path of inflation, the Governing Council stands ready to increase the programme in terms of size and/or duration.
The President of the ECB will comment on the considerations underlying these decisions at a press conference starting at 14:30 CET today.
»» Press Conference is coming up in about 40 minutes , watch Mr.Draghi LIVE here
Press conference following the meeting of the Governing Council of the European Central Bank on 27 April 2017 at its premises in Frankfurt am Main, Germany, starting at 14:30 CET:
- Introductory statement by Mario Draghi, President of the ECB.
- Question and answer session. Registered journalists pose questions to Mario Draghi, President of the ECB, and to Vítor Constâncio, Vice-President of the ECB.