ECB keeps interest rates unchanged. Marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25% and -0.50% respectively.
Forward guidance is also unchanged that “the Governing Council expects the key ECB interest rates to remain at their present or lower levels until it has seen the inflation outlook robustly converge to a level sufficiently close to, but below, 2% within its projection horizon, and such convergence has been consistently reflected in underlying inflation dynamics.”
There is also no change to the pandemic emergency purchase programme (PEPP), which has an overall envelop of EUR 750B. Next asset purchase will continue at EUR 20B per month.
