TEXT: ECB Leaves Key Interest Rates Unchanged

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

Governing Council following today's meeting:

     Monetary policy decisions

     7 September 2017 

     At today's meeting the Governing Council of the 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 for an extended period of time,

and well past the horizon of the net asset purchases.

     Regarding non-standard monetary policy measures, the Governing Council

confirms that the net asset purchases, at the current monthly pace of E60

billion, are intended to run until the end of December 2017, or beyond, if

necessary, and in any case until the Governing Council sees a sustained

adjustment in the path of inflation consistent with its inflation aim. The net

purchases are made alongside reinvestments of the principal payments from

maturing securities purchased under the asset purchase programme. If the outlook

becomes less favourable, or if financial conditions become inconsistent with

further progress towards a sustained adjustment in the path of inflation, the

Governing Council stands ready to increase the programme in terms of size and/or

duration.

     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$$$,MC$$$$,M$$EC$]