ECB Keeps Rates, Statement Unchanged; QE To Run Until "December 2017 Or Beyond"

Tyler Durden's picture

The ECB has kept not only its three key rates and pace of QE unchanged, but also its most recent statement, reiterating that it sees QE "at the current monthly pace of €60 billion, are intended to run until the end of December 2017, or beyond, if necessary", sees rates at present level well past the end of QE - according to more than half of economists in a recent Bloomberg survey, the ECB will keep its rates on hold until 2019 -  and that QE will run until the inflation path has sustainably adjusted.

  • ECB SEES QE RUNNING UNTIL END OF DECEMBER OR BEYOND IF NEEDED
  • ECB: QE TO RUN UNTIL INFLATION PATH HAS SUSTAINABLY ADJUSTED

The Full statement:

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%, 0.25% and -0.40% respectively. The Governing Council expects the key ECB interest rates to remain at their present levels for an extended period of time, and well past the horizon of the net asset purchases.

 

Regarding non-standard monetary policy measures, the Governing Council confirms that the net asset purchases, at the current monthly pace of €60 billion, are intended to run until the end of December 2017, or beyond, if necessary, and in any case until the Governing Council sees a sustained adjustment in the path of inflation consistent with its inflation aim. The net purchases are made alongside reinvestments of the principal payments from maturing securities purchased under the asset purchase programme. 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 Governing Council stands ready to increase the programme in terms of size and/or duration.

 

The President of the ECB will comment on the considerations underlying these decisions at a press conference starting at 14:30 CET today.

And now, on to the press conference, where as previewed earlier, the focus will be on the ECB's inflation forecasts and language about the size of future asset purchases.

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FreeShitter's picture

QE forever until they own 100% of it all. The plebes must work 2-3 jobs just to survive, keep voting plebes hoping your favorite puppet will actually do what you voted for, nevermind the guillotines that should be your tools instead.

GUS100CORRINA's picture

ECB Keeps Rates, Statement Unchanged; QE To Run Until "December 2017 Or Beyond"

My response: The CBs have an unlimited license to PRINT until GOD says enough! What wouild make GOD say enough?

Dishonest weights and measures which is what the CBs are promoting through their QE program. Dishonest weights and measures are an abomination to the LORD. The LORD detests dishonest scales, but accurate weights find favor with him.

The CBs are the CORRUPT MONEY CHANGERS in the TEMPLE and will be brought to their knees.

THE END 

Iocosus's picture

God gave people free will. If the people allow and even accept these crimes against themselves as necessary for economic "stability", God usually permits these things to happen. It's been like this for 2000 years, yet humanity has not changed.

Government needs you to pay taxes's picture

Welcome my son, welcome to the machine

Where have you been?

It's alright we know where you've been

yogibear's picture

Nothing new, historically. They know it. Print money until cause massive stealth (current stats hide real inflation  (rent, taxes,etc) ) inflation until the system collapses. 

Brazen Heist's picture

Has anyone else been noticing products getting smaller but the price remaing the same if not increasing?

Introducing stealth inflation! Another gem from the corporatocracy.

Jtrillian's picture

Yes, It's called SHRINKFLATION.  CPI won't capture that.

Brazen Heist's picture

You're correct, CPI won't capture that because the bastards are using the same product package sizing, so the statistics bureau cannot make an adjustment for this.

Cash2Riches's picture

QE to infinity is what we now live under. Central banksters around the world know nothing else, except for printing money. This farce is going to lead to an eventual massive rise in precious metals and renewed bull market to new highs.

dubaibubble's picture

you must realise what worthless toilet paper the USD must be for the EUR to keep gaining value despite this endless shit show from the ECB

keep stacking and I do not mean paper of any sort

UnschooledAustrianEconomist's picture

You're always going to need toilet paper. Unless you got some strange habits I really don't want to know about.

falak pema's picture

No business like keep buying the Euro doing what it takes !

GotAFriendInBen's picture

QInfinity

Test drive one today

Arrest Hillary's picture

QE to run until December .... diarrhea of the purse ?

DavidC's picture

Draghi - weak and pathetic.

DavidC

onthedeschutes's picture

Migrants and fiat...both flow unabated into the EU.  At least future generations can read about what Europe was like before it went boom!

Brazen Heist's picture

Take the juice away and let the zombies fend for themselves.

UnschooledAustrianEconomist's picture
ECB Keeps Rates, Statement Unchanged; QE To Run Until "December 2017 Or Beyond"

 

Come on, Tylerz. That was highly predictable from the beginning. So why did you dedicate 5 articles to that nothing burger? On one day?

DavidC's picture

One can always hope that they might do the right thing and that this time might be different (yes, I know...!).

DavidC

Jtrillian's picture

Down with the CENTRAL BANKS.  They must be forced out of the markets.  They will not do it themselves (quite the opposite!).

 

GodHelpAmerica's picture

If you haven't gotten the memo yet, you're running out of time to protect protect yourself from the largest bubbles in history: the USD, JPY, and Euro.

Wonder why the Chinese are stockpiling raw materials and resources? They're exchanging extremely overvalued currencies for undervalued items.

AG17's picture

CB are left with no shield or ammunition to save their shit. So are just hiding and prolonging the epic fall..

Son of Captain Nemo's picture

This means PMs will only go up?... Right???

Seasmoke's picture

Now we see why Fischer is swimming back to Israel ASAP.

Son of Captain Nemo's picture

Or Russia... given there Wahhabi project gone bad (http://www.zerohedge.com/news/2017-09-07/king-saudi-arabia-visit-russia-...)

I'm sure Stan has some fluency with the Russian language within someone in his "wood pile" given the heritage and origin of the "Tribe"

But the parasite "tick" is in for rude awakening when he goes back to the "old neighborhood" and attempts to lodge itself in the Bear's butt!

God Bless the Russian Federation and the Russian peoples!

JailBanksters's picture

There is no until, there is an unless though

It has to be be Free Money forever, unless it collapses.

 

VW Nerd's picture

Monetary fraud violently imposed on the world, owned and operated by liars and thieves.  Any leader of any country standing in opposition to the parasitic banking racket is labeled as a thug, dictator and a tyrant....ask John McCain or Trump for that matter.  Sanctions, war and death to all who seek any honest and equitable system outside theirs.

Goldbugger's picture

QE is a drug that cannot stop. Or the addict will die.

atlasRocked's picture

QE is the fascists undermining the private economy by addicting the populace to gov't spending and debt purchase.   It's so obvious, the one assumption explains why Hitler created ZIRP and why current day fascists are repeating Hitler's successful policy to bribe and addict corporations to gov't spending, just like the poor become addicted to welfare.