The central bank also left unchanged its €60 billion ($71.8 billion) per month asset purchase program and kept its promise to run the accommodation “until the end of December 2017, or beyond, if necessary”, while also leaving the door open to a possible increase in size “if financial conditions become inconsistent with further progress towards a sustained adjustment in the path of inflation”.
Draghi affirms ECB will decide on tapering in the autumn
Even while the European Central Bank made no changes to either policy or its statement on Thursday, Mario Draghi, president of the euro zone monetary authority, affirmed that a decision on whether to reduce, or taper, asset purchases will be decided in autumn, most likely in October.The ECB kept monetary policy on hold on Thursday with the main refinancing rate left unchanged at 0%, the rate on bank overnight deposits kept at -0.40%, while the rate on the marginal lending facility, or emergency overnight borrowing rate for banks, stayed at 0.25%.
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