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- European Central Bank kept its interest rate unchanged
European Central Bank kept its interest rate unchanged
The European Central (ECB) Bank released its interest rate decision today. The ECB its benchmark interest rate unchanged at 0.05%, its marginal lending rate at 0.30% and its deposit facility rate at -0.20%.
The ECB President Mario Draghi said at the press conference that the central bank will start purchasing covered bonds in the second half of October, while the asset-backed securities (ABSs) program will begin before the end of the year. Both programs will last for at least two years.
Draghi pointed out that the economic growth in the Eurozone is weakening.
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