7/22/2021, 1:45 PM (Source: TeleTrader)
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ECB leaves stimulus, interest rates unchanged

The European Central Bank (ECB) announced on Thursday its decision to maintain key interest rates at present levels, in line with expectations. The interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility are to remain unchanged at 0.00%, 0.25% and -0.50% respectively.

Meanwhile, the ECB intends to continue with its asset purchases at a monthly pace of €20 billion until shortly before it starts raising rates.

The Governing Council expects the key ECB interest rates to "remain at their present or lower levels until it sees inflation reaching 2% well ahead of the end of its projection horizon and durably for the rest of the projection horizon, and it judges that realized progress in underlying inflation is sufficiently advanced to be consistent with inflation stabilizing at 2% over the medium term."

Baha Breaking the News (BBN) / JC