As expected, the ECB kept its official interest rates unchanged at today's meeting. President Draghi confirmed during the press conference that the asset purchase programme will continue as defined in Jan until at least Sept 2016.
The ECB considers that despite an improved economic outlook, risks are still tilted to the downside, although gradually rebalancing. Therefore, any speculation about earlier tapering was premature and not relevant.
Mario Draghi also confirmed that the deposit rate would not be cut further below the current -20bp.
