ECB leaves key interest rates unchanged

Thursday, 16. July 2020 13:46

The European Central Bank announced on Thursday it has left the interest rates on the marginal lending facility and the deposit facility unchanged at 0.00%, 0.25%, and -0.50%, respectively, meeting the expectations. ECB's President Christine Lagarde is set to provide further details at 2:30 pm CET today.

The ECB's Governing Council confirmed it will continue purchases under the pandemic emergency purchase program (PEPP) worth €1.35 trillion. Furthermore, the Council said it will conduct net asset purchases at least until the end of June 2021, or until it judges that the coronavirus crisis is over.

Lastly, the ECB said that net purchases under the asset purchase program (APP) will continue at €20 billion per month, together with the purchases under the additional €120 billion temporary envelope until the end of 2020.

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