ECB Commits 1.85 Trillion Euro Bond Purchases. Keeps Rate Unchanged

Source: European Central Bank

The European Central Bank will purchase 1.85 trillion euros or $2.2 trillion of bonds until March 2022.

EURUSD is down -0.11%, DAX is up +0.92%.

• The central bank’s Governing Council left the main deposit facility rate unchanged at -0.5%.
• The benchmark refinancing rate was maintained at 0% while the marginal lending facility remained at 0.25%.
• The central bank is expected to keep the key interest rates at the present or lower levels until an inflation target of 2% is achieved sustainably.
• ECB promised to keep purchasing bonds flexibly in a manner that does not tighten financing conditions, while also countering the adverse impacts of the pandemic.