ECB leaves rates at record low, reiterates dovish guidance

• December 14, 2017
• realestatelife
• Announcements, Business & Markets, Real Estate, Real Estate Finance

The European Central Bank on Thursday made no changes to policy, keeping its deposit rate at negative 0.4% and its main refinancing rate at 0%. The bank reiterated its guidance that rates will “remain at their present levels for an extended period of time, and well past the horizon of the net asset purchases.” The policy makers confirmed the decision from October to halve its quantitative easing program to €30 billion in January and let it run until the end of September 2018 or “beyond.” The ECB also repeated previous guidance that it stands ready to increase the size and/or duration of the QE program if the outlook for inflation becomes less favorable. Next up is ECB President Mario Draghi’s press conference at 1:30 p.m London time, or 8:30 a.m. Eastern Time.