European Central Bank Leaves Interest Rates Unchanged

By Markets MarketWatch Pulse

The European Central Bank, as expected, left official interest rates unchanged on Thursday. The bank's main lending rate, known as the refi rate, remains at 0%, while the rate paid on deposits left overnight at the ECB remains at minus 0.4%. The rate on the bank's marginal lending facility stands at 0.25%. ECB President Mario Draghi will hold a news conference at 2:30 p.m. Frankfurt time, or 8:30 a.m. Eastern. The ECB repeated, in its statement, that policy makers expect rates to remain at present or lower levels for an "extended period." The bank also repeated that its program of monthly asset purchases of 80 billion euros will continue until at least the end of March 2017.

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