The ECB interest rate decision has just been announced.
The bank deposit rate drops from -0.40% to -0.50%.
The ECB key rate (refinancing rate) remains unchanged at 0.00%. The marginal lending facility also remains unchanged at 0.25%.
The bond purchase program is re-launched with 20 billion Euros per month! Start is November. And important: It will run for an indefinite period.
Important statement: Interest rates should first remain at this level or fall slightly. Expiring bonds will continue to be reinvested.
At 2:30 pm Mario Draghi’s extremely important PC follows. We will then report on all current statements immediately.