European Central Bank Kept Its Main Interest Rate Unchanged at Zero
OREANDA-NEWS. The European Central Bank expectedly kept the base interest rate at zero level, and the rate on deposits at the level of –0.5 %. This was stated on September 10 in a message published on the website of the organization.
The Governing Council of the Bank believes that key rates will remain at current levels or below until inflation stays close to the target level a little lower than 2 %.
The allocation for the Pandemic Emergency Purchase Programme also remained unchanged. It stands at 1.350 trillion euros, as experts expected previously.
“Net purchases under the asset purchase programme (APP) will continue at a monthly pace of €20 billion, together with the purchases under the additional €120 billion temporary envelope until the end of the year,” the message of the European Central Bank reads.