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The European Central Bank has left all rates unchanged

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The European Central Bank has left all rates unchanged

The European Central Bank has left all rates unchanged
September 08
16:00 2016

On Thursday the European Central Bank has held a meeting. The official report of the Central Bank reads that as the result of the meeting the bank decided to leave the interest rate on loans at zero level.

In addition, the European Central Bank has left unchanged the rate for deposits at the mark of minus 0.4% per annum. The rate on the marginal lending was left at the level of 0.25% per annum.

Despite the fact that the Central Bank’s decision has coincided with the market expectations, some analysts speculated that the bank may extend the QE program term for the second time. The European Central Bank has an actual plan regarding the program. It will continue until the end of March next year, and the total amount of the program will be equal to 1.7 trillion euros.

In addition, representatives of the European Central Bank once again stated that “an extended period” of rates would remain at the same levels as they are now, or even lower.

The program of the bond repurchase that includes corporate bonds, has not justified itself as it didn’t give positive indicators. Also, the inflation in the region is still located far away from the target level of 2%. There is an increase in consumer prices in the euro zone. Last month they increased by 0.2% in annual terms.

The euro is being currently traded within $ 1.1296 against the level of $ 1.1239 at the time of the finish of the previous session.

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