10 June 2021
At todays meeting, the Governing Council decided to confirm its very accommodative monetary policy stance:

The interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25% and -0.50% respectively. The Governing Council expects the key ECB interest rates to remain at their present or lower levels until it has seen the inflation outlook robustly converge to a level sufficiently close to, but below, 2% within its projection horizon, and such convergence has been consistently reflected in underlying inflation dynamics.

The Governing Council will continue to conduct net asset purchases under the pandemic emergency purchase programme (PEPP) with a total envelope of 1,850 billion until at least the end of March 2022 and, in any case, until it judges that the coronavirus crisis phase is over. Based on a joint assessment of financing conditions and the inflation outlook, the Governing Council expects net purchases under the PEPP over the coming quarter to continue to be conducted at a significantly higher pace than during the first months of the year.

The Governing Council will purchase flexibly according to market conditions and with a view to preventing a tightening of financing conditions that is inconsistent with countering the downward impact of the pandemic on the projected path of inflation. In addition, the flexibility of purchases over time, across asset classes and among jurisdictions will continue to support the smooth transmission of monetary policy. If favourable financing conditions can be maintained with asset purchase flows that do not exhaust the envelope over the net purchase horizon of the PEPP, the envelope need not be used in full. Equally, the envelope can be recalibrated if required to maintain favourable financing conditions to help counter the negative pandemic shock to the path of inflation.

The Governing Council will continue to reinvest the principal payments from maturing securities purchased under the PEPP until at least the end of 2023. In any case, the future roll-off of the PEPP portfolio will be managed to avoid interference with the appropriate monetary policy stance.

Net purchases under the asset purchase programme (APP) will continue at a monthly pace of 20 billion. The Governing Council continues to expect monthly net asset purchases under the APP to run for as long as necessary to reinforce the accommodative impact of its policy rates, and to end shortly before it starts raising the key ECB interest rates.

The Governing Council also intends to continue reinvesting, in full, the principal payments from maturing securities purchased under the APP for an extended period of time past the date when it starts raising the key ECB interest rates, and in any case for as long as necessary to maintain favourable liquidity conditions and an ample degree of monetary accommodation.

Finally, the Governing Council will continue to provide ample liquidity through its refinancing operations. The funding obtained through the third series of targeted longer-term refinancing operations (TLTRO III) plays a crucial role in supporting bank lending to firms and households.

The Governing Council stands ready to adjust all of its instruments, as appropriate, to ensure that inflation moves towards its aim in a sustained manner, in line with its commitment to symmetry.

  

Beitrag dem Admin melden | Urheberrechtsverletzung melden

Diverse Gurus ber das aktuelle Brsengeschehen 8 [Alle anzeigen] , Rang: SieurKolou74(312), 07.1.21 20:01
 
Subject Auszeichnungen Author Message Date ID
Stefan Rie: Mega-Hausse voraus
07.1.21 19:12
1
Five Reasons Why We Are Inflation Bulls
11.1.21 09:21
2
Erste Group - Investoren blicken bereits in die Zukunft
13.1.21 11:03
3
Somebody should be shot
01.2.21 14:51
4
RE: Somebody should be shot
01.2.21 18:24
5
Global equity markets rebounded strongly from the prior...
07.2.21 21:52
6
Fear & Greed Index
13.2.21 12:12
7
Speculative Traders Add Billions to Meme Stocks at Ne...
14.2.21 11:33
8
      Cathie Wood Risks Having Too Much Money and Not Enough ...
14.2.21 11:35
9
      Brsenguru Jeremy Grantham warnt
19.2.21 14:14
10
      Ken Fisher: So sieht sein Depot aus
19.2.21 14:19
11
Der neue IVA-Chef
20.2.21 15:46
12
RE: Der neue IVA-Chef
20.2.21 15:54
13
While there is a lot of talk about bubbles - VIX!
24.2.21 13:54
14
Jens Ehrhardt: So investiere ich jetzt!
24.2.21 14:40
15
Global equity markets were weaker into the end of the w...
28.2.21 20:53
16
equities will be able to tolerate bonds repricing
06.3.21 18:17
17
We see higher rates largely as a function of earlier an...
08.3.21 11:26
18
Inverted yield curve hat wieder funktioniert
21.3.21 12:02
19
Was Cathie Wood eigentlich in ihrem Fonds hat
22.3.21 16:38
20
RE: Was Cathie Wood eigentlich in ihrem Fonds hat
22.3.21 20:55
21
      DAX 20.000?
01.4.21 08:29
22
JPMorgans Dimon Says This Boom Could Easily Run Into ...
07.4.21 14:25
23
RE: JPMorgans Dimon Says This Boom Could Easily Run I...
07.4.21 14:30
24
Norwegischer Staatsfondsinteressant
11.4.21 10:46
25
RE: Norwegischer Staatsfonds
12.4.21 20:03
26
      RE: Norwegischer Staatsfonds
12.4.21 20:25
27
Goldman und Pimco sehen Inflationswahn
17.5.21 08:01
28
RE: Goldman und Pimco sehen Inflationswahn
17.5.21 08:12
29
      RE: Goldman und Pimco sehen Inflationswahn
17.5.21 22:22
30
EZB heute
10.6.21 15:45
31
Biden hat nur begrenzt Zeit
11.6.21 14:17
32
Fed prognostiziert 2 Zinserhhungen in den nchsten 2 J...
16.6.21 21:41
33
FOMC meeting was a hawkish surprise, but bullish view o...
22.6.21 15:33
34
We maintain our pro-risk view
14.7.21 13:51
35
BlackRock CEO Fink does not see inflation as transitory
14.7.21 16:12
36
We remain constructive on equities
20.7.21 08:30
37
A significant development over the past few days
28.7.21 15:04
38
Q2 US earnings season has been spectacular so far
02.8.21 15:28
39
Earnings delivery has been very strong
09.8.21 15:35
40
We continue to see the global economy accelerating in 2...
10.8.21 09:00
41
The collapse in inventories will be a bigger boost to g...
10.8.21 09:34
42
We continue to hold a bullish Equities view into year-e...
10.8.21 10:45
43
Notenbank-Gouverneur Holzmann: "Wir mssen nicht das ga...
01.9.21 10:01
44
We retain a pro-risk allocation on strong global growth
14.9.21 13:54
45
What on Earth Is Going on in Commodities?interessant
19.9.21 08:47
46
RE: What on Earth Is Going on in Commodities?
19.9.21 10:18
47
      RE: What on Earth Is Going on in Commodities?
19.9.21 11:12
48
      RE: What on Earth Is Going on in Commodities?
19.9.21 11:13
49
JPMorgans Kolanovic Sees Stock Rout Overdone, Urges Di...
20.9.21 21:18
50
RE: JPMorgans Kolanovic Sees Stock Rout Overdone, Urge...gut analysiert
20.9.21 23:21
51
      RE: JPMorgans Kolanovic Sees Stock Rout Overdone, Urge...
21.9.21 09:52
52
we see sell-offs as opportunities to buy the dip
27.9.21 19:03
53
keep buying into any weakness
04.10.21 20:47
54
gelscht
06.10.21 12:45
55
gelscht
06.10.21 12:44
56
Our core view remains that the COVID situation will con...
06.10.21 22:49
57
We are bullish on Equities
11.10.21 20:40
58
The Q3 reporting season is unlikely to disappoint overa...
27.10.21 15:15
59
Global supply chain pressures are easing
10.11.21 12:09
60
Baltic Dry Index ist seit Mitte Oktober kollabiert
10.11.21 12:13
61
Goldman-Prognose Omikron: Vier Szenarien fr die Weltwi...
30.11.21 06:36
62

Thema #223806
  Vorheriges Thema | Nchstes Thema


Powered by DCForum+ Version 1.27
Copyright 1997-2003 DCScripts.com
0.2