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    2018.06.14 - ECB Monetary Policy Decisions

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    The Governing Council of the ECB decided to continue net purchases under its asset purchase programme at €30 billion per month until September 2018, after which purchases will be reduced to €15 billion until December 2018. Interest rates will remain unchanged at their current levels. The ECB also intends to reinvest maturing securities for an extended period to maintain accommodative liquidity conditions. These monetary policy decisions aim to ensure inflation continues its sustained convergence towards the ECB's target of below but close to 2% over the medium term.

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    2018.06.14 - ECB Monetary Policy Decisions

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    The Governing Council of the ECB decided to continue net purchases under its asset purchase programme at €30 billion per month until September 2018, after which purchases will be reduced to €15 billion until December 2018. Interest rates will remain unchanged at their current levels. The ECB also intends to reinvest maturing securities for an extended period to maintain accommodative liquidity conditions. These monetary policy decisions aim to ensure inflation continues its sustained convergence towards the ECB's target of below but close to 2% over the medium term.

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    2018.06.14_ECB Monetary Policy Decisions

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    2018.06.14_ECB Monetary Policy Decisions

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    The Governing Council of the ECB decided to continue net purchases under its asset purchase programme at €30 billion per month until September 2018, after which purchases will be reduced to €15 billion until December 2018. Interest rates will remain unchanged at their current levels. The ECB also intends to reinvest maturing securities for an extended period to maintain accommodative liquidity conditions. These monetary policy decisions aim to ensure inflation continues its sustained convergence towards the ECB's target of below but close to 2% over the medium term.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    29 views1 page

    2018.06.14 - ECB Monetary Policy Decisions

    Uploaded by

    TREND_7425
    The Governing Council of the ECB decided to continue net purchases under its asset purchase programme at €30 billion per month until September 2018, after which purchases will be reduced to €15 billion until December 2018. Interest rates will remain unchanged at their current levels. The ECB also intends to reinvest maturing securities for an extended period to maintain accommodative liquidity conditions. These monetary policy decisions aim to ensure inflation continues its sustained convergence towards the ECB's target of below but close to 2% over the medium term.

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    PRESS RELEASE

    Monetary policy decisions


    14 June 2018

    At today’s meeting, which was held in Riga, the Governing Council of the ECB undertook a
    careful review of the progress towards a sustained adjustment in the path of inflation, also taking
    into account the latest Eurosystem staff macroeconomic projections, measures of price and wage
    pressures, and uncertainties surrounding the inflation outlook.

    Based on this review the Governing Council made the following decisions:

    First, as regards non-standard monetary policy measures, the Governing Council will continue to
    make net purchases under the asset purchase programme (APP) at the current monthly pace of
    €30 billion until the end of September 2018. The Governing Council anticipates that, after
    September 2018, subject to incoming data confirming the Governing Council’s medium-term
    inflation outlook, the monthly pace of the net asset purchases will be reduced to €15 billion until
    the end of December 2018 and that net purchases will then end.

    Second, the Governing Council intends to maintain its policy of reinvesting the principal
    payments from maturing securities purchased under the APP for an extended period of time after
    the end of the net asset purchases, and in any case for as long as necessary to maintain
    favourable liquidity conditions and an ample degree of monetary accommodation.

    Third, the Governing Council decided that the interest rate on the main refinancing operations
    and the interest rates on the marginal lending facility and the deposit facility will remain
    unchanged at 0.00%, 0.25% and -0.40% respectively. The Governing Council expects the key
    ECB interest rates to remain at their present levels at least through the summer of 2019 and in
    any case for as long as necessary to ensure that the evolution of inflation remains aligned with
    the current expectations of a sustained adjustment path.

    Today’s monetary policy decisions maintain the current ample degree of monetary
    accommodation that will ensure the continued sustained convergence of inflation towards levels
    that are below, but close to, 2% over the medium term.

    The President of the ECB will comment on the considerations underlying these decisions at a
    press conference starting at 14:30 CET today.

    European Central Bank

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