MNI: ECB Leaves Key Rates Unchanged, Ends Fresh APP: Text

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

Governing Council 

     December 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 net purchases under

the asset purchase programme (APP) will end in December 2018. At the same time,

the Governing Council is enhancing its forward guidance on reinvestment.

Accordingly, the Governing Council intends to continue reinvesting, in full, the

principal payments from maturing securities purchased under the APP 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$]