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Breaking: ECB Leaves Rates Unchanged, Expands PEPP by €500 Billion to End-March 2022

The European Central Bank (ECB) decided to leave the interest rates on the main refinancing operations, the marginal lending facility and the deposit facility unchanged at 0.00%, 0.25% and -0.50%, respectively, as expected.

The ECB further announced that it decided to increase the envelope under the Pandemic Emergency Purchase Programme (PEPP) by €500 billion to a total of €1,850 billion. The bank also extended the horizon for net purchases under the PEPP to at least the end of March 2022.

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