ECB Left Policy Settings Unchanged But Risks Tilted to the Downside

The deposit, refinancing and marginal lending facility interest rates of the European Central Bank have been left at -0.5%, 0.0%, and 0.25%. It’s been a year since the deposit rate was reduced 10 basis points more deeply into the red. The Governing Council led by Christine Lagarde also retained all of its quantitative policy settings […]

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