ECB will continue 1.8 trillion euros of ‘asset purchase’; Lagarde gives growth outlook

Christine Lagarde, President of the European Central Bank, reiterated her stance on maintaining accommodative monetary policy.

“The governing council decided to reconfirm its very accommodative monetary policy stance. We will keep the key ECB interest rates unchanged, we expect them to remain at their present or lower levels until we have seen the inflation outlook robustly converge to a level sufficiently close but below 2% within our projection horizon,” Lagarde said.

Asset purchases will continue, Lagarde noted.

“We will continue to conduct net asset purchases under the Pandemic Purchase Program with a total envelope of 1,850 billion Euros, until at least March 2022,” she said.

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