The end product will meet our objective to provide the ECB with energy-efficient, functional and safe headquarters, while allowing for the necessary flexibility to foster interaction and communication – not only among staff, but also with our colleagues of the Eurosystem, the European Systemic Risk Board and other institutions.
In particular, the Committee decided to continue its program to extend the average maturity of its securities holdings, to maintain its existing policy of reinvesting principal payments on its portfolio of securities, and to keep the target range for the federal funds rate at 0 to 1/4 percent.