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MNI (London)
     LONDON (MNI) - Below is the text release by the European Central Bank's
Governing Council Monetary policy decisions
     April 26
     Monetary policy decisions
     At today's meeting the Governing Council of the ECB decided that the
interest rate on the main refinancing operations and the interest rates on the
marginal lending facility and the deposit facility will remain unchanged at
0.00%, 0.25% and -0.40% respectively. The Governing Council expects the key ECB
interest rates to remain at their present levels for an extended period of time,
and well past the horizon of the net asset purchases.
     Regarding non-standard monetary policy measures, the Governing Council
confirms that the net asset purchases, at the current monthly pace of E0
billion, are intended to run until the end of September 2018, or beyond, if
necessary, and in any case until the Governing Council sees a sustained
adjustment in the path of inflation consistent with its inflation aim. The
Eurosystem will reinvest the principal payments from maturing securities
purchased under the asset purchase programme for an extended period of time
after the end of its net asset purchases, and in any case for as long as
necessary. This will contribute both to favourable liquidity conditions and to
an appropriate monetary policy stance.
     The President of the ECB will comment on the considerations underlying
these decisions at a press conference starting at 14:30 CET today.
     European Central Bank Directorate General Communications
--MNI London Bureau; tel: +44 203-586-2225; email:
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