At our last monetary policy meeting in March we also clarified the interaction between our rate and asset purchase guidance, namely that we expect the key ECB interest rates to remain at present or lower levels well past the horizon of our net asset purchases.
Transmission channels of the credit easing package Our decision to respond to emerging shocks by rescaling our existing measures – rather than adopting new ones – has hinged on our confidence that those measures are effective in lifting inflation back towards our objective.