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ECB interest rates on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged. Reiterates QE ends in December subject to data

BankofECB

The European Central Bank announces its monetary policy decision for August 2018

The Governing Council of the European Central Bank 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 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

  • Prior decision Main refinancing rate 0.00%
  • Marginal lending facility 0.25%
  • Deposit facility -0.40%
  • Monthly asset purchases €30 billion
  • October onwards until December, to be scaled down to €15 billion
  • Anticipates that asset purchases to end in December
  • Key interest rates to remain at present levels at least through the summer of 2019
  • And in any case for as long as necessary to ensure continued sustained convergence of inflation to levels that are sustainable 

 Full statement by the ECB:

Changes via RANsquawk @RANsquawk

 

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

The statement of President Draghi ahead

ECB President Mario Draghi and Vice-President Vítor Constâncio explain the Governing Council's monetary policy decisions and answer questions from journalists at today’s press conference.

Webcast – 14:30 CET

Alternate player (audio: en,fr,de) Watch on Twitter @ECB

Live. https://www.ecb.europa.eu/home/html/index.en.html

Source: Euopean Central Bank

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