European Central Bank puts interest rates on hold

CAIRO – 20 July 2017: The European Central Bank (ECB) decided in a Thursday meeting to keep the interest rate on the main refinancing operations, marginal lending facility and the deposit facility unchanged.

The interest rate on the main refinancing operations, the marginal lending facility and the deposit facility were maintained at their rates at 0.00 percent, 0.25 percent and -0.40 percent, respectively, the ECB posted on its website.

“Net asset purchases, at the current monthly pace of €60 billion, are intended to run until the end of December 2017, or beyond, if necessary, and in any case until the Governing Council sees a sustained adjustment in the path of inflation consistent with its inflation aim,” Governing Council confirmed.

The central bank noted that in case the financial conditions became inconsistent with further progress towards a sustained adjustment in the path of inflation, the Governing Council would increase the asset purchase program in terms of size and/or duration.

European Central Bank, ECB, Interest Rate, Main Refinancing Operations, Marginal Lending Facility, Deposit Facility, Interest Rate