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MNI BRIEF: ECB On Hold With No Sign Of Early Easing Shift

(MNI) LONDON
(MNI) London

ECB leaves key rates on hold and offers no guidance of an early shift to lower rates.

Policy NewsCentral Bank NewsHomepageEuropean Central BankCEEMEAEurozoneEuropean Central Bank (ECB) Market NewsBriefStoryRegion
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The ECB's key policy rates were left unchanged Thursday, with no signals in the policy statement of any early shift towards lower rates. In a move widely expected by financial markets, the ECB said the deposit rate was unchanged at 4.0%, with the refi rate and the minimum lending facility at 4.5% and 4.75% respectively. (See MNI ECB WATCH: ECB To Hold With Cuts Seen By Mid-Year)

The ECB left its language on policy broadly unchanged, saying interest rates are at levels that, maintained for a sufficiently long duration, will make a substantial contribution to achieving its inflation goal and that they would be set at sufficiently restrictive levels for as long as necessary. (See MNI SOURCES: "Biggest Minority" Favours ECB June Cut)

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The ECB's key policy rates were left unchanged Thursday, with no signals in the policy statement of any early shift towards lower rates. In a move widely expected by financial markets, the ECB said the deposit rate was unchanged at 4.0%, with the refi rate and the minimum lending facility at 4.5% and 4.75% respectively. (See MNI ECB WATCH: ECB To Hold With Cuts Seen By Mid-Year)

The ECB left its language on policy broadly unchanged, saying interest rates are at levels that, maintained for a sufficiently long duration, will make a substantial contribution to achieving its inflation goal and that they would be set at sufficiently restrictive levels for as long as necessary. (See MNI SOURCES: "Biggest Minority" Favours ECB June Cut)

Keep reading...Show less