MNI: ECB Leaves Key Interest Rates Unchanged - Text

     LONDON (MNI) - Below is the text release by the European Central Bank's

Governing Council Monetary policy decisions

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     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: les.commons@marketnews.com

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