ECB keeps rates on hold

ECB president Mario Draghi

The ECB has left interest rates on hold.

The main refinancing operations and the interest rates on the marginal lending facility and the deposit facility sit at zero, 0.25 per cent and -0.40 per cent respectively.

The ECB’s governing council expects interest rates to remain at these levels for an “extended period of time”, and “well past the horizon of the net asset purchases”, which remain at €60bn and are intended to run until the end of the year.

The governing council says it is ready to increase the programme if the outlook becomes less favourable.