FRANKFURT, July 20 (Xinhua) -- The European Central Bank (ECB) decided Thursday to keep key interest rates for the euro area at record low.
The Eurozone base interest rate will remain at 0.00 percent, with the marginal lending rate and deposit rate remaining at 0.25 percent and minus 0.40 percent respectively, according to the bank.
As non-standard monetary policy measures, the net asset purchases will continue at the current monthly pace of 60 billion euro until the end of December 2017, or beyond if necessary, and in any case until the ECB sees a sustained adjustment in the path of inflation consistent with its inflation aim, it said in a statement.
Regarding forward guidance, the ECB said that it still expects the key interest rates to remain at their present levels for an extended period of time, insisting that if the outlook becomes less favourable, or if financial conditions become inconsistent with further progress towards a sustained adjustment in the path of inflation, the ECB stands ready to increase the program in terms of size and/or duration.
