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3/12/2020, 1:45 PM (Source: TeleTrader)
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ECB holds rates, to add €120B in asset purchases

The European Central Bank decided to leave the interest rates on the main refinancing operations, the marginal lending facility and the deposit facility unchanged at 0.00%, 0.25% and -0.50%, respectively, the Governing Council announced in a statement on Thursday.

It also said that more longer-term refinancing operations (LTROs) will be conducted "to provide immediate liquidity support" to the financial system as "an effective backstop in case of need," although the central bank does not see liquidity shortages in the banking system or money markets.

The ECB will conduct additional net asset purchases of €120 billion until the end of the year, in combination with the existing asset purchase program (APP), in order to support the economy and the financial sector "in times of heightened uncertainty."

Breaking the News / NI