The European Central Bank held its key interest rates unchanged at a record low on Thursday for an eighth session in a row.
The Governing Council, led by ECB President Mario Draghi, held the refinancing rate at a record low 0.05 percent, following its meeting in Frankfurt. The decision was in line with economists’ expectations.
The bank also held the deposit rate unchanged at -0.20 percent and the marginal lending rate at 0.30 percent. The three main interest rates were lowered by 10 basis points in September last year.
Draghi will hold his customary post-decision press conference at 8.30 am ET. He likely to face several questions on when the ECB plans to boost its emergency funding for Greek banks, which would allow them to reopen.
The central bank chief is also likely to tackle difficult questions on the tough austerity proposed for Greece and the future of the euro area.
The material has been provided by InstaForex Company – www.instaforex.com