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JP Morgan On NBH 1W Deposit and Policy Rates

MNI (London)
     LONDON (MNI) - Below is the text release by the European Central Bank's
Governing Council 
     January 24
     Monetary policy decisions
     24 January 2019
     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
intends to continue reinvesting, in full, the principal payments from maturing
securities purchased under the asset purchase programme for an extended period
of time past the date when it starts raising the key ECB interest rates, 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:
[TOPICS: M$X$$$,MC$$$$,MT$$$$,M$$EC$]
MNI London Bureau | +44 203-865-3812 |