ECB holds rates unchanged

Today, the European Central Bank (ECB) held a meeting, following which the regulator left key interest rates at the same levels, and began reviewing its strategy for the first time since 2003.

The ECB kept the interest rate on loans at zero, the deposit rate was left at -0.5% per annum, and the margin rate – at 0.25% per annum. Central Bank officials noted that the ECB's key interest rates will remain at their current or lower levels until inflation approaches the regulator's target level (just below 2%).

The ECB also announced the continuation of net asset purchases under the QE program, resumed from November 1. The asset purchase volume is € 20 billion per month.

At a press conference held by ECB President C. Lagarde after the meeting, the first revision of the European regulator’s strategy since 2003 was announced. The review will continue throughout most of the year and will cover a wide range of issues, from inflation targets to digital money and combating climate change.