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MNI (London)
     LONDON (MNI) - Below is the text release by the European Central Bank's
Governing Council 
     Monetary policy decisions
     Sep 13
     Monetary policy decisions
     At today's meeting the Governing Council of the European Central Bank (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 at least
through the summer of 2019, and in any case for as long as necessary to ensure
the continued sustained convergence of inflation to levels that are below, but
close to, 2% over the medium term.
     Regarding non-standard monetary policy measures, the Governing Council will
continue to make net purchases under the asset purchase programme (APP) at the
current monthly pace of E30 billion until the end of this month. After September
2018, the Governing Council will reduce the monthly pace of the net asset
purchases to E15 billion until the end of December 2018 and anticipates that,
subject to incoming data confirming the medium-term inflation outlook, net
purchases will then end. The Governing Council intends to reinvest the principal
payments from maturing securities purchased under the APP for an extended period
of time after the end of the net asset purchases, and in any case for as long as
necessary to maintain favourable liquidity conditions and an ample degree of
monetary accommodation.
     The President of the ECB will comment on the considerations underlying
these decisions at a press conference starting at 14:30 CET today.
--MNI London Bureau; tel: +44 203-586-2225; email:
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