ECB Leaves Key Rates Unchanged

At its monetary policy meeting held on July 16th, the Governing Council of the European Central Bank (ECB) decided to leave the interest rates on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility unchanged at 0.00%, 0.25% and -0.50%, respectively, as expected.

Additionally,  the ECB kept its Pandemic Emergency Purchase Programme (PEPP) steady at €1,350B after expanding it by €600B in June.