Free Trial

MNI POLICY: ECB Holds Rates; No Decisions on TLTRO, Tiering

By Luke Heighton
     FRANKFURT (MNI) - The European Central Bank kept key interest rates
unchanged Wednesday, and provided no additional information on the terms of the
TLTRO programme due to start in September.
     The Governing Council reiterated forward guidance adopted in March,
according to which rates will remain unchanged until the end of 2019. There was
no mention of tiering the deposit rate in the policy decision statement.
     As previously stated, reinvestments on the principal payments from maturing
securities purchased under the ECB's APP programme will continue, in full, for
an extended period of time past the date when the Bank starts raising rates.
     ECB president Mario Draghi will comment on the decisions at a press
conference starting at 14:30 CET today.
--MNI Frankfurt Bureau; +49-69-720-146; email: luke.heighton@marketnews.com
--MNI London Bureau; +44 203 865 3829; email: jason.webb@marketnews.com
[TOPICS: MT$$$$]

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.