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ECB leaves interest rates unchanged at September 2016 meeting

ECB governing council meeting announcement 8 September 2016

  • Main refinancing rate 0.0%

  • Deposit rate -0.40%

  • Marginal lending rate 0.25%

  • QE €80bn per month

  • QE to run to March 2017 or beyond if necessary

  • Continues to expect the key ECB rate to remain at present or lower levels for an extended period of time and well past the horizon of QE

The Euro's popped through 1.1300 to 1.1316 as those longs didn't get torpedoed by a definitive message on an extension. That all may change at the presser though.

PRESS RELEASE

Monetary policy decisions

At today's meeting the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25% and -0.40% respectively. The Governing Council continues to expect the key ECB interest rates to remain at present or lower levels for an extended period of time, and well past the horizon of the net asset purchases.

Regarding non-standard monetary policy measures, the Governing Council confirms that the monthly asset purchases of €80 billion are intended to run until the end of March 2017, or beyond, if necessary, and in any case until it sees a sustained adjustment in the path of inflation consistent with its inflation aim.

The President of the ECB will comment on the considerations underlying these decisions at a press conference starting at 14:30 CET today.

You can watch the presser live here from 12.30 GMT

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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