European Central Bank President Christine Lagarde addresses European lawmakers during a plenary session at the European Parliament in Brussels, on February 8, 2021.
Olivier Matthys | AFP | Getty Images
The European Central Bank on Thursday held monetary policy steady, but tweaked its guidance to reflect its recently-hiked inflation target.
The ECB has committed to purchasing 1.85 trillion euros ($2.2 trillion) of bonds until March 2022 as part of its Pandemic Emergency Purchase Program (PEPP), and policymakers voted to keep this stimulus on the table for the time being.
Interest rates were also left unchanged, with the rate on the main deposit facility remaining at -0.5%, the benchmark refinancing rate at 0% and the marginal lending facility at 0.25%.
The central bank’s Governing Council revised its forward guidance on interest rates, having upgraded its inflation target to a symmetric 2% over the medium term at its recent strategy review.
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