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Financial News: ECB Maintains Status Quo On Rates, QE

ECB Maintains Status Quo On Rates, QE

09/13/2018 - 08:05:00 (RTTNews)

(RTTNews) - The European Central Bank kept its interest rates unchanged on Thursday and maintained the forward guidance on monetary stimulus for a second policy session in a row.

The main refi rate is currently at a record low zero percent and the deposit rate at -0.40 percent. The marginal lending facility rate is 0.25 percent.

"The Governing Council expects the key ECB interest rates to remain at their present levels at least through the summer 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 percent over the medium term," the ECB said in a statement.

The bank reiterated its guidance for its asset purchases.

In June, the ECB announced that it hopes to halve its monthly bond purchases to EUR 15 billion after September and to end them in December.

The ECB said it intends to reinvest the principal payments from maturing securities purchased under the APP for an extended period of time after the end of the net asset purchases.

ECB President Mario Draghi is set to hold the press conference at 8.30 am ET in Frankfurt.

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