English
The European Central keeps interest rates unchanged at zero levels
The European Central Bank kept interest rates steady and also remained cautious as it assessed the economic fallout from the Russian invasion of Ukraine.
The European Central Bank announced that it will end asset purchases faster than planned, before adding that it is ready to reconsider this decision if expectations change.
“If the incoming data supports that medium-term inflation expectations will not subside even after the end of our net asset purchases, the board will complete net purchases under APP in the third quarter,” the bank said, referring to the asset purchase program.
The bank said that monthly net purchases under the application will reach 40 billion euros, or 44.5 billion dollars, in April, 30 billion euros in May and 20 billion euros in June.
The standard refinancing rate of the central bank remained at 0%, the interest rate on the marginal lending facility was stable at 0.25% and the deposit facility rate was kept at -0.5%.
