MNI: ECB Leaves Key Interest Rates Unchanged - Text

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

Governing Council 

     October 25

     Monetary policy decisions

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     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: les.commons@marketnews.com

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