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MNI (London)
     LONDON (MNI) - Below is the text release by the European Central Bank's
Governing Council 
     October 25
     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
new monthly pace of E15 billion until the end of December 2018. The Governing
Council 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 1430 CET today.
--MNI London Bureau; tel: +44 203-586-2225; email:
[TOPICS: M$X$$$,MC$$$$,MT$$$$,M$$EC$]
MNI London Bureau | +44 203-865-3812 |