The interest rates on the main refinancing operations, the marginal lending facility, and the deposit facility will remain unchanged at 0.00 percent, 0.25 percent, and -0.50 percent, respectively. According to the ECB's Governing Council, the "accommodative" rates will remain until the Eurozone inflation outlook reaches a level close to, but below 2 percent.
The Council reiterated the ECB will continue purchases under the pandemic emergency purchase programme (PEPP) with a total envelope of €1.85 trillion, as well as continue reinvesting the principal payments from maturing securities purchased under the PEPP through 2023.