MNI: ECB Leaves Key Rates Unch, Reinvests To Continue: Text

     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: les.commons@marketnews.com

[TOPICS: M$X$$$,MC$$$$,MT$$$$,M$$EC$]