ECB keeps key interest rates unchanged during Vilnius meeting

During its meeting in Vilnius on Thursday, the European Central Bank's Governing Council did not change its monetary policy, the ECB said.

According to the statement, 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 -0.40 percent respectively.

The later rate means that banks will have to pay for their deposits at the euro zone central bank.

The Governing Council now expects the key ECB interest rates to remain at their present levels at least through the first half of 2020, and in any case for as long as necessary to ensure the continued sustained convergence of inflation to levels that are below, but close to, 2 percent over the medium term, the statement reads.