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European Central Bank Leaves Interest Rates Unchanged

Kitco News

(Kitco News) - The European Central Bank’s Governing Council Thursday left interest rates unchanged.

The rates on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain at 0.00%, 0.25% and minus 0.40%, respectively.

“The Governing Council expects the key ECB interest rates to remain at their present levels for an extended period of time, and well past the horizon of the net asset purchases,” said a policy statement from the ECB.

Meanwhile, the ECB said net asset purchases, at the current monthly pace of €30 billion, are intended to run until the end of September, or longer if necessary, until the Governing Council “sees a sustained adjustment in the path of inflation consistent with its inflation aim.”

ECB President Mario Draghi is scheduled to hold a news conference Thursday.

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