‘Substantial’ accommodation must continue – Draghi

Mario Draghi
Mario Draghi

Mario Draghi has given a monetary policy statement hinting that the European Central Bank (ECB) might be near to changing the language it uses on interest rates, but reiterating the need for monetary policy to remain accommodative.

Interest rates on the main refinancing operations, the marginal lending facility and the deposit facility all remained unchanged at 0.00%, 0.25% and –0.40% respectively. As announced at the ECB’s last monetary policy meeting, the bank will continue its asset purchase