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European Central Bank leaves rates, QE unchanged

Staff Writer | September 9, 2016
The European Central Bank left its key interest rates unchanged for a fourth consecutive session and retained its asset purchases, in line with economists' expectations.
European Central Bank
Europe   The deposit rate was kept at -0.40 percent
The Governing Council, led by ECB President Mario Draghi, kept the refi rate unchanged at a record low zero percent in the policy session held in Frankfurt.

The deposit rate was kept at -0.40 percent, and the marginal lending facility rate at 0.25 percent. The three rates were previously lowered in March.

Policymakers continue to expect "the key ECB interest rates to remain at present or lower levels for an extended period of time, and well past the horizon of the net asset purchases," the bank said in a statement.

The bank also said that the monthly asset purchases of EUR 80 billion will "run until the end of March 2017, or beyond, if necessary, and in any case until it sees a sustained adjustment in the path of inflation consistent with its inflation aim".