Monetary policy decisions, January 2017

Author (Corporate)
Series Title
Series Details 19.01.17
Publication Date 19/01/2017
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The Governing Council of the European Central Bank announced on 19 January 2017 its decision to keep the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility unchanged at 0.00%, 0.25% and -0.40% respectively.

It expected the key ECB interest rates to remain at those or lower levels for an extended period of time, and well past the horizon of the net asset purchases.

The Council also confirmed its intention to continue to make purchases under the asset purchase programme (APP) at the monthly pace of €80 billion until the end of March 2017 and that, from April 2017, the net asset purchases were intended to continue at a monthly pace of €60 billion until the end of December 2017, or beyond, if necessary, and in any case until the Governing Council saw a sustained adjustment in the path of inflation consistent with its inflation aim.

Source Link https://www.ecb.europa.eu/press/pr/date/2017/html/pr170119.en.html
Related Links
ESO: Background information: Monetary policy decisions, December 2016 http://www.europeansources.info/record/monetary-policy-decisions-december-2016/
EurActiv, 20.01.17: ECB unconvinced by inflation increase, monetary policy unchanged http://www.euractiv.com/section/euro-finance/news/ecb-unconvinced-by-inflation-increase-monetary-policy-unchanged/
ECB: Introductory statement to the press conference (with Q&A) https://www.ecb.europa.eu/press/pressconf/2017/html/is170119.en.html
BBC News, 19.01.17: European Central Bank keeps key interest rate on hold http://www.bbc.co.uk/news/business-38677499
Bloomberg, 19.01.17: Draghi’s Come-Back-Later Gives ECB Pause to Ponder the Future https://www.bloomberg.com/news/articles/2017-01-19/draghi-s-come-back-later-gives-ecb-pause-to-ponder-the-future
The Wall Street Journal, 19.01.17: ECB: Going Nowhere Despite German Inflation Anxiety http://www.wsj.com/articles/ecb-going-nowhere-despite-german-inflation-anxiety-1484843599
EUObserver, 19.01.17: 'Be patient,' ECB chief tells Germany https://euobserver.com/economic/136605

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