ECB Keeps Stimulus Unchanged as Investors Await Draghi Insight

The European Central Bank opted to keep its stimulus settings unchanged for now as officials started cautiously sketching out the future of their quantitative-easing program.

Policy makers maintained asset purchases at 60 billion euros ($72 billion) a month until December, and reiterated their pledge to increase the size or duration if the economy worsens. They left interest rates unchanged and repeated that they expect borrowing costs to stay at present levels until well past the end of net asset buying. Attention now turns to President Mario Draghi’s press conference at 2:30 p.m. in Frankfurt, when he’ll be pressed for insight into the Governing Council’s first formal talks on next year’s strategy.

Click here to watch Draghi’s press conference

ECB Monetary Policy Sept. 7 decision
Main refinancing rate 0 percent
Deposit rate minus 0.4 percent
Marginal rate 0.25 percent
Asset-purchase target 60 billion euros a month

Source