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ECB holds interest rates; QE to end in December

ECB holds interest rates; QE to end in December

Mubasher: The European Central Bank (ECB) on Thursday decided to keep its key interest rates on hold.

The ECB’s interest rate on its main refinancing operations will be kept at 0.00% while the interest rate on its marginal lending facility will be left at 0.25%, with -0.40% interest on deposit facility, according to the central bank.

The interest rates are set to stay at their current ultra-low levels at least through the summer of the next year, the ECB’s governing council expected.

The net purchases under the asset purchase programme (APP), known as quantitative easing (QE) would end this December.

By 12:55 pm GMT, the EUR/USD pair ticked up 0.02% to $1.1371.