European Central Bank keeps interest rates unchanged

By Gokhan Ergocun

ISTANBUL (AA) - The European Central Bank (ECB) on Thursday decided to keep interest rates unchanged, complying with the market expectations.

Interest rates on main refinancing operations, marginal lending and deposit facility are 0.00%, 0.25%, and minus 0.50%, respectively, said a bank statement.

The bank also decided to continue conducting net asset purchases under the ongoing pandemic conditions -- with a total envelope of €1.85 billion ($2.2 billion) until at least the end of March 2022.

"Equally, the envelope can be recalibrated if required to maintain favourable financing conditions to help counter the negative pandemic shock to the path of inflation," it noted.

"Net purchases under the asset purchase programme (APP) will continue at a monthly pace of €20 billion," it added.

The bank highlighted that its Governing Council will continue to provide ample liquidity through its refinancing operations.