European Central Bank leaves interest rates unchanged in January as expected

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European Central Bank leaves interest rates unchanged in January as expected

  • The European Central Bank is keeping the key refinancing rate fixed at 0%.
  • The common currency has largely ignored the price announcement, and the EUR/USD pair is flat below 1.11.
  • European Central Bank President Lagarde will deliver her remarks on the policy outlook at 13:30 GMT.

The European Central Bank (ECB) Board of Directors decided at its monetary policy meeting on January 23, to leave the interest rates on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility unchanged at 0.00%, 0.25% and -0.50% , respectively, as expected. Attention now turns to ECB President Christine Lagarde's first press conference at 13:30 GMT.

The EUR/USD pair was last seen trading at 1.1090, where it was virtually unchanged on a daily basis.

the main points

“Rates are at current or lower levels until inflation expectations converge strongly with the target, which is reflected in core inflation.”

"The bond-buying program will run for as long as necessary, ending shortly before the first rate hike."

“It will reinvest the app completely long after the first rate hike, for as long as necessary.”

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