- The European Central Bank continues its accommodative monetary policy stance, keeping its interest rates at their current level and continuing to conduct asset purchases under its pandemic emergency purchase program ("PEPP").
- The central bank expects purchases under the PEPP over the current quarter to continue to be conducted at a significantly higher pace than during the first months of the year.
- The euro rises 0.1% against the U.S. dollar; Vanguard FTSE Europe ETF (NYSEARCA:VGK) is unchanged in premarket trading.
- Reaffirms that it will continue the emergency net asset purchases until at least the end of March 2022, and "until it judges that the coronavirus crisis phase is over."
- The ECB's Governing Council said it will purchase flexibly according to market conditions with a view to prevent tightening of financial conditions "that is inconsistent with countering the downward impact of the pandemic on the projected path of inflation."
- Net purchases under its asset purchase program ("APP") continues at monthly pace of €20B.
- Rates remain at 0.00% for main refinancing operations, 0.25% for marginal lending facility, and -0.5% for the deposit facility.
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