ECB Keeps Policy Settings Unchanged Awaiting Political Clarity
- QE to run until end of year, guidance on rates stays unchanged
- President Mario Draghi will speak at 2:30 p.m. in Frankfurt
Draghi Says Downside Risks Have Further Diminished
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The European Central Bank kept interest rates unchanged at record lows and maintained its quantitative-easing program as officials monitor the economic recovery and the risk of political turbulence in the region.
The Governing Council reaffirmed its decision that asset purchases will continue at a monthly pace of 60 billion euros ($65 billion), down from 80 billion euros prior to April. Policy makers left the main refinancing rate at zero and the deposit rate and marginal lending rate at minus 0.4 percent and 0.25 percent respectively, as predicted by all economists in a Bloomberg survey.