The European Central Bank has left key interest rates and its QE asset purchasing scheme unchanged. The move was largely expected as analysts said the bank needed to save some monetary ammunition for a December meeting.The ECB held its key refinancing rate at a record-low level of 0 percent on Thursday, where it’s been since March. It also left its deposit rate at -0.4 percent and its marginal lending rate at 0.25
The ECB held its key refinancing rate at a record-low level of 0 percent on Thursday, where it’s been since March. It also left its deposit rate at -0.4 percent and its marginal lending rate at 0.25 percent.
The bank also promised to keep its 80 billion euro ($90.4 billion) monthly asset purchases in place until at least next March.
All eyes are now on ECB chief Mario Draghi, who will hold at press conference at 2:30 p.m. local time.
He is expected to present the bank’s new growth and inflation forecasts, which should for the first time indicate what impact Britain’s decision to leave the European Union has had on the bloc’s economic health.
cjc/uhe (dpa, Reuters)
