The interest rate for the main refinancing operations
Bank economists surveyed by Reuters had expected this decision.
The interest rate on the deposit facility and the marginal
There were no changes in the monetary policy accompanying interest rate decision. So the key phrase remains that the purchase program “will take on new proportions of € 30 billion per month by the end of September 2018 or beyond if necessary, and in any case until the ECB Governing Council recognizes a sustained correction in inflation, in line with its inflation target consistent.
According to economists
“An adjustment of the monetary policy orientation of the European Central Bank will therefore be delayed. The ECB plans to phase out ultra-lax monetary policy because of the ongoing economic recovery.