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ECB Freezes European Lending Rate for 12 Months
The European Central Bank has decided to continue its current key lending rate for the eurozone without change at least through mid-2019.
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The European Central Bank has decided to continue its current key lending rate for the eurozone without change at least through mid-2019.
The decision leaves the bank’s base interest rate at zero and deposit rate at a minus 0.4%.
The ECB also affirmed that it will reduce its monthly net asset purchases from the current €30 billion to €15 billion ($17.5 billion) in October before phasing out the economic stimulus entirely at the end of 2018.
Separately, the central bank predicts inflation in the eurozone will remain at about its current 2% level through the remainder of this year.
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