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ECB Leaves All Three Key Rates Unchanged

ECB Leaves All Three Key Rates UnchangedGold Silver Reports —  ECB Leaves All Three Key Rates Unchanged — The European Central Bank kept its stimulus programme unchanged in a sign that policy makers don’t see an immediate danger to the euro-area recovery from risks including Britain’s decision to leave the European Union. The Governing Council left the main refinancing rate at zero, the deposit rate at minus 0.4% and asset purchases at 80 billion ($90 billion) a month. 

“The Governing Council continues to expect the key ECB interest rates to remain at present or lower levels for an extended period of time, and well past the horizon of the net asset purchases,“ it said in a statement.

“The monthly asset purchases of 80 billion are intended to run until the end of March 2017, or beyond, if necessary , and in any case until it sees a sustained adjustment in the path of inflation consistent with its inflation aim.“

The focus now turns to whether ECB President Mario Draghi will announce any technical adjustments to the ECB’s quantitative-easing program, which could indicate policy makers are preparing to prolong the plan past the current end-date. While most economists surveyed by Bloomberg predict an extension will be announced before the end of the year, officials first need to decide how to prevent the 1.7 trillion plan from running into scarcity problems. — Neal Bhai Reports 

ECB Leaves All Three Key Rates Unchanged

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