The European Central Bank, as expected, made no changes Thursday to interest rates or its asset-buying program, taking a breather after expanding the size of its pandemic emergency purchase program, or PEPP, in June. The ECB left its deposit rate at minus 0.5% and its refinancing rate at 0%, and said it would continue net purchases under its asset purchase program at a monthly pace of €20 billion, together with the purchases under the additional €120 billion temporary envelope until the end of the year. ECB President Christine Lagarde will host a news conference at 8:30 a.m. Eastern.
Read the full story:
ECB passes torch to Europe’s politicians on eve of summit on big spending plan