The Governing Council of the European Central Bank has said that main refinancing operations, marginal lending and deposit facilities are expected to ‘remain unchanged’ until around Summer 2019.
These these rates will continue to sit at 0.00%, 0.25% and -0.40% respectively, as long as inflation remain close or lower than 2% in the short to medium term.
The announcement comes as part of the ECB’s assessment of the body’s lending and liquidity of the European Union.
In addition to rates, the ECB has also said that net purchases under the asset purchases programme (APP) are expected to end this December.
The organisation has also said that it will continue to reinvest in principal payment securites made under the APP beyond the time that the ECB raises interest rate. This will continue for as is necessary to maintain liqudity.