The European Central Bank (ECB) has decided to leave interest rates unchanged of the main refinancing operations, the marginal credit facility and the deposit facility at 0.00%, 0.25% and -0.50%, respectively, as expected.
The ECB has further announced that decides to increase the endowment of the Pandemic Emergency Purchase Program (PEPP) in 500,000 million euros up to a total of 1,850,000 million euros. The central bank also extends the horizon for net purchases under the PEPP at least until the end of March 2022.
Market reaction
As an initial market reaction, the pair EUR/USD it is moving higher, gaining 0.26% on the day at 1.2113.
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
