The Governing Council continues to judge that favourable financing conditions can be maintained with a moderately lower pace of net asset purchases under the pandemic emergency purchase programme (PEPP) than in the second and third quarters of this year. The Governing Council also confirmed its other measures, namely the level of the key ECB interest rates, its forward guidance on their likely future evolution, its purchases under the asset purchase programme (APP), its reinvestment policies and its longer-term refinancing operations. Specifically: 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 -0.50% respectively. tweet at 7:46am: ECB: INFLATION MAY MODERATELY EXCEED GOAL FOR TRANSITORY PERIOD : tweet at 7:46am: *ECB TO PROVIDE AMPLE LIQUIDITY THROUGH REFINANCING OPERATIONS tweet at 7:46am: ACCORDING TO THE ECB, IT EXPECTS MONTHLY NET ASSET PURCHASES UNDER THE PROGRAMME TO CONTINUE FOR AS LONG AS REQUIRED TO REINFORCE THE ACCOMMODATING IMPACT OF ITS POLICY RATES AND TO STOP JUST BEFORE IT BEGINS RAISING INTEREST RATES.European Central Bank holds policy steady despite soaring inflation The European Central Bank decided Thursday to keep interest rates and its monetary policy stance unchanged despite ongoing inflationary pressures. The central bank had announced in September it would be buying less bonds off the back of surging consumer prices. Inflation in the euro zone hit 3.4% in September, representing a 13-year high. At the time, ECB President Christine Lagarde made it clear this was a recalibration, but not tapering. This is because the ECB is of the view that higher inflation is temporary and will fade throughout 2022. However, not everyone agrees with the central bank. Speaking to CNBC on Wednesday, James von Moltke, chief financial officer at Deutsche Bank, said that inflation “will be more than transitory.” “There’s good reasons to think it nor

tweet at 8:34am: #ECB LAGARDE: INFLATION EXPECTED TO RISE FURTHER - BBG *LAGARDE: INFLATION PRESSURES SHOULD EASE IN COURSE OF 2022 tweet at 8:35am: Lagarde acknowledges market is pushing back harder on rate curve - and says pace of purchases can still maintain favorable financing conditions. “It is essential for the recovery.� tweet at 8:37am: #ECB LAGARDE: ECONOMY GREW STRONGLY IN 3Q - BBG *LAGARDE: HIGHER ENERGY PRICES MAY REDUCE PURCHASING POWER *LAGARDE: DELIVERY TIMES LENGTHENED CONSIDERABLY *LAGARDE: SUPPLY CONSTRAINTS CLOUD OUTLOOK FOR NEXT QUARTERS tweet at 8:37am: LAGARDE: TARGETED, COORDINATED FISCAL POLICY NEEDED tweet at 8:37am: *Lagarde: Current Phase Of Inflation To Last Longer Than Expected

tweet at 8:57am: Lagarde: PEPP Is Going To End In March 2022 tweet at 8:58am: Lagarde says: at this point, I have every reason to think the PEPP programme will end in March 2022 tweet at 8:59am: *LAGARDE: CONDITIONS FOR LIFTOFF CLEARLY NOT SATISFIED tweet at 9:02am: LAGARDE SAYS SOME SEE SUPPLY ISSUES PERSISTING IN MOST OF 2022 tweet at 9:05am: Lagarde: We're Not Seeing Stagnation, Are Seeing A Slowing Of Recovery

tweet at 8:49am: ECB'S PRESIDENT LAGARDE: CONFIDENT TEMPORALITY OF INFLATION IS THE CORRECT VIEW. tweet at 8:49am: ECB President Lagarde said analysis does not support market based lift-off expectations tweet at 8:49am: *Lagarde: Conditions For Rate Rise Not Likely To Be Met In Timeframe Expected By Markets tweet at 8:51am: LAGARDE: MARKET BETS ON RATE HIKES NOT IN LINE WITH GUIDANCE tweet at 8:51am: *LAGARDE: SLOWDOWN OF PEPP PURCHASES ISN'T TAPERING