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    14.01.2016 14:58 ECB Monetary Policy Meeting Account: some members wanted a 0.2% cut of the deposit rate

    The European Central Bank's (ECB) its minutes of December meeting on Thursday. The minutes showed that some members wanted a 0.2% cut of the deposit rate.

     

    "Some members expressed a preference for a 20 basis point cut in the deposit facility rate at the current meeting, mainly with a view to strengthening the easing impact of this measure and reflecting the view that, to date, no material negative side effects on bank margins and financial stability had emerged," the minutes said.

     

    Most board members supported the extension of the purchases from September 2016 to March 2017.

     

    According to the minutes, the possibility of expanding the monthly volume of purchase and the possibility of the horizon beyond the six month were discussed at the meeting.

     

    The ECB said that it could review the technical parameters of its quantitative easing in spring 2016.

     

    The ECB kept its interest rate unchanged at 0.05% in December, but lowered its deposit rate to -0.3% from -0.2%. The asset-buying programme will be extended until the end of March 2017. Earlier, the asset buying programme was intended to run until September 2016. The volume of the monthly purchases remained unchanged.


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