ECB expectedly kept the base rate at zero level

The Board of Governors of the European Central Bank (ECB) at its meeting today kept the base interest rate at a record low zero, as expected by most experts. The rate has been at this level since March 2016.

The deposit rate was also left unchanged – at the level of minus 0.5%, while the margin rate remained at 0.25%.

The European regulator noted that it will keep all rates at (or below) the current level until inflation approaches the target level of 2%.

In addition to rates, the ECB left unchanged the parameters of the special asset purchase program Pandemic emergency purchase program (PEPP). At the moment, its volume is 1.85 trillion euros. The program will run at least until the end of March 2022.