Investing.com – The European Central Bank left interest rates on hold Thursday, in a widely anticipated decision, and reiterated that rates will remain unchanged at least through the summer of 2019.
With Thursday’s decision, the ECB’s deposit rate, currently its primary interest rate tool, remains at -0.40% while the main refinancing rate, which determines the cost of credit in the economy, stayed at zero.
The ECB also repeated that it expects its asset purchase program to end in December after halving it to €15 billion per month starting in October, from €30 billion at present.
The euro zone monetary authority had announced plans to wind up its massive bond purchasing stimulus program at its June meeting.
Meanwhile, investors looked ahead to the bank’s post-policy-meeting press conference with president Mario Draghi for the outlook on the euro-area economy amid uncertainties surrounding the Italian budget, Brexit negotiations and rising protectionism.
The ECB’s latest meeting minutes noted that trade tensions could lead to a decline in confidence throughout the global economy, beyond any direct effects from trade tariffs.
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Source: Investing.com
