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European Central Bank will maintain soft monetary policy

The European Central Bank has kept the base interest rate on loans at zero level and will continue the program of redemption of bonds in the amount of 1.35 trillion euros at least until the end of June next year, euronews reports.

The regulator noted that the program is helping to ease monetary policy, helping to offset the slowdown in inflation associated with the pandemic.

ECB President Christine Lagarde said: "Incoming data and polls suggest that economic activity improved significantly in May and June compared to April. At the same time, economic indicators remain below the level recorded before the coronavirus pandemic, the recovery is still in its early stages. And remains uneven across all areas and jurisdictions."