Baku, Azerbaijan, Jan. 25
By Anvar Mammadov - Trend:
The European Central Bank (ECB) has left the main refinancing rate unchanged following the bank’s January meeting, the ECB said in a message Jan. 25.
The main refinancing rate, which determines the cost of credit in the economy, is unchanged at 0.00 percent, while the rate on the marginal lending facility - the emergency overnight borrowing rate for banks - remains at 0.25 percent, according to the message.
The ECB’s rate on bank overnight deposits, which is currently its primary interest rate tool, remains at -0.40 percent, the message noted.
“The Governing Council expects the key ECB interest rates to remain at their present levels for an extended period of time,” the ECB added.
The bank confirmed that monthly bond purchases would continue at 30 billion euros ($37.16 billion) a month until the end of September, and said it stood ready to expand or lengthen its asset purchase program if the inflation outlook worsens.