Finland Times

 

File Photo AFP-Lehtikuva

The European Central Bank (ECB) decided to leave the three key interest rates for the euro area unchanged after a meeting held here on Thursday, the ECB announced in a press release.

 

"At today's meeting, the Governing Council of the ECB decided that 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 percent, 0.25 percent and minus 0.40 percent respectively," read the press release.

 

The bank also noted Eurosystem will start making purchases under its corporate sector purchase program (CSPP).

 

"Moreover, starting on June 22 , it will conduct the first operation in its new series of targeted longer-term refinancing operations," ECB said in the statement.

 

ECB president Mario Draghi said in a press conference that growth of eurozone countries continues to be supported by domestic demand.

 

Inflation is expected to be very low in the next few months, corresponding with a modest increase in oil prices, he added.

 

Draghi also said Britain would benefit from staying in the European Union.