ECB announced that the Asset Purchase Program “should be concluded in the third quarter. Monthly net purchases under the APP will continue to be EUR 40B in April, EUR 30B in May and EUR 20B in June. The calibration of net purchases for Q3 will be data-dependent and depend on the outlook.
Interest rates are held unchanged with main refinancing rate, marginal lending facility rate and deposit rate at 0.00%, 0.25% and -0.50% respectively. Adjustments to rates will take place “some time” after ending the APP and will be “gradual”.
