forex newsECB Holds Rates, QE Unchanged

ECB Holds Rates, QE Unchanged

The European Central Bank left its interest rates unchanged on Thursday and maintained the forward guidance on monetary stimulus after the Governing Council’s June decision to halve monthly asset purchases after September and eventually end them in December.

The main refi rate is currently at a record low zero percent and the deposit rate at -0.40 percent. The marginal lending facility rate is 0.25 percent.

The bank reiterated its guidance for its asset purchases.

In June, the ECB announced that it hopes to halve its monthly bond purchases to EUR 15 billion after September and to end them in December.

The ECB said it intends to reinvest the principal payments from maturing securities purchased under the APP for an extended period of time after the end of the net asset purchases.

ECB President Mario Draghi is set to hold the press conference at 8.30 am ET in Frankfurt.

The material has been provided by InstaForex Company – www.instaforex.com

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