2/3, 1:45 PM (Source: TeleTrader)
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ECB keeps interest rates unchanged

The European Central Bank (ECB) decided on Thursday to leave key interest rates unchanged, with the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility at 0.00%, 0.25% and -0.50% respectively. The bank also confirmed it will end the pandemic emergency purchase program (PEPP) at the end of March.

The ECB also stated the monthly net purchases under the asset purchase program (APP) will amount to €40 billion in the second quarter of 2022 and €30 billion in the third quarter, dropping to €20 billion a month from October on "for as long as necessary to reinforce the accommodative impact of its policy rate." The central bank expects net purchases to end "shortly before it starts raising" interest rates.

Baha Breaking News (BBN) / DJ