By Aysu Bicer
ANKARA (AA) – The European Central Bank (ECB) on Thursday decided to keep interest rates stable, complying with the market expectations.
Interest rates on main refinancing operations, marginal lending and deposit facility are 0.00%, 0.25%, and -0.50%, respectively, according to the bank's statement.
The ECB will continue its purchases under the pandemic emergency purchase program (PEPP) with a total envelope of €1.35 trillion ($1.51 trillion).
The bank will conduct net asset purchases under the PEPP until at least the end of June 2021 and, in any case, until it judges that the coronavirus crisis phase is over, it noted.
Also, the ECB noted net purchases under the asset purchase program (APP) will continue at a monthly pace of €20 billion ($23 billion), together with the purchases under the additional €120 billion ($137 billion) temporary envelope until the end of the year.