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The European Central Bank maintained the level of interest rates following the meeting and announced an increase in the pandemic emergency purchase programme (PEPP) by EUR 600 billion to EUR 1.35 trillion, Reuters reported.

According to the statement:

The horizon for net purchases under the PEPP will be extended to at least the end of June 2021.

In any case, the Governing Council will conduct net asset purchases under the PEPP until it judges that the coronavirus crisis phase is over. 

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.

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