The European Central Bank announces its monetary policy decision - 13 Sept
- Prior decision
- Main refinancing rate 0.00%
- Marginal lending facility 0.25%
- Deposit facility -0.40%
- Monthly asset purchases remain at €30 billion until end of September
- October onwards until December, to be scaled down to €15 billion
- Anticipates that asset purchases to end in December
- That will be subject to incoming data confirming the medium-term inflation outlook
- Key interest rates to remain at present levels at least through the summer of 2019
- And in any case for as long as necessary to ensure continued sustained convergence of inflation to levels that are sustainable
Very much a copy and paste of the July meeting. All eyes now turn to Draghi and his press conference later at 1230 GMT. The central bank will also be releasing its latest updated growth and inflation forecasts then.
In terms of key takeaways here, the ECB is reiterating that QE is expected to end in December but that is still subject to incoming data. That's a repeat of the message seen in July. EUR/USD barely moving still at 1.1631 from before the statement was released.
