At today’s meeting the Governing Council of the European Central Bank (ECB) decided that 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 -0.40% respectively. The Governing Council expects the key ECB interest rates to remain at their present levels at least through the end of 2019, and in any case for as long as necessary to ensure the continued sustained convergence of inflation to levels that are below, but close to, 2% over the medium term. The Governing Council intends to continue ... (full story)

The European Central Bank (ECB) held interest rates steady on Wednesday, shortly after the International Monetary Fund (IMF) sharply downgraded its economic growth forecast for the euro zone economy. The ECB has been forced to backtrack its plans to tighten monetary policy in recent weeks, amid an intensifying climate of economic gloom. The central bank unveiled a series of fresh stimulus measures last month, and market participants will be closely monitoring comments from ECB President Mario Draghi at around 1:30 p.m. London time. Interest rates on its marginal lending facility and deposit facility will remain ... (full story)