ECB Keeps Monetary Policy Unchanged

The European Central Bank (ECB) gave further details of its new long-term lending program for banks on Thursday, after keeping monetary policy unchanged.  The bank maintained interest rates at their current levels, with the main refinancing rate at a record low of 0.15 percent.

At his regular post-decision press conference, ECB President Mario Draghi also announced that the frequency of the bank’s meetings would change to a six-week cycle from January 2015, and that it would start publishing minutes of its policy meetings.

Analysts expected the ECB to hold fire this month, after it announced a series of measures in June to combat the euro zone’s growth-sapping disinflation and spur its recovery. These measures included a negative interest rate on banks for parking deposits with the ECB and a 400 billion-euro ($546 billion) loan program for banks.

CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.