ECB keeps base rate at 0%

The European Central Bank (ECB) has kept the base rate at 0%, the rate on short-term loans remained at 0.25%, and the deposit rate was - 0.5%.

Report informs citing foreign media that the ECB expects the regulator's key interest rates to remain at their current levels until inflation is expected at 2% by the end of the forecast period. Now inflation in the eurozone exceeds 5%.

The regulator said that in the first quarter of 2022, it will carry out the buyout of assets as part of the pandemic emergency purchase program (PEPP) launched in 2020, slower than in the previous quarter. The program is scheduled to be completed by the end of March.

The ECB emphasizes that any changes in the bank’s key rates will take place "some time" after the end of the regular asset purchase program (Asset Purchase Program, APP), all changes will be gradual. In April, as part of the APP, the regulator plans to buy assets worth $40 billion, in May - for $30 billion, and in June - for $20 billion.