Economic Buzz: ECB Keeps Rates Steady, To Maintain Persistently Accommodative Monetary Policy

Economic Buzz: ECB Keeps Rates Steady, To Maintain Persistently Accommodative Monetary Policy

Jul 22, 2021 07:07 IST capital market

The European Central Bank (ECB) kept interest rates unchanged on Thursday. In a statement around lunchtime, the central bank said it would keep the Eurozones refinancing rate at 0%, its marginal lending rate at -0.25%, and its deposit rate at -0.50%. The ECB governing council said it expects rates were set to stay where they are until it sees inflation reaching 2% well ahead of the end of its projection horizon and durably for the rest of the projection horizon. At the moment, the medium-term outlook for inflation is still well below the Governing Councils target, policymakers said in a statement. The governing council stressed its commitment to maintain a persistently accommodative monetary policy stance.

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