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Recap of the ECB policy moves announced – Deutsche Bank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Research Team at Deutsche Bank, presents a recap of the ECB policy moves announced yesterday.

    Key Quotes

    "1.) The interest rate on the main refinancing operations of the Eurosystem will be decreased by 5bps to 0.00%.

    2.) The interest rate on the marginal lending facility will be decreased by 5bps to 0.25%.

    3.) The interest rate on the deposit facility will be decreased by 10bps to - 0.40%.

    4.) The monthly purchases under the asset purchase programme will be expanded to €80bn starting in April.

    5.) Investment grade euro-denominated bonds issued by non-bank corporations established in the Euro area will be included in the list of assets that are eligible for regular purchases.

    6.) A new series of four targeted longer-term refinancing operations (TLTRO II), each with a maturity of four years, will be launched, starting in June 2016. Borrowing conditions in these operations can be as low as the interest rate on the deposit facility."
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