ECB Leaves Rates Unchanged; Draghi In Focus

The European Central Bank, as expected, made no changes to official interest rates on Thursday. The ECB's Governing Council left the refi rate at 0.05% and maintained the rate on deposits parked overnight at the bank at negative 0.2%. ECB President Mario Draghi's news conference at 2:30 p.m. Frankfurt time, or 8:30 a.m. Eastern, will be watched to see if the central bank is prepared to ramp up its quantitative-easing program in the wake of turmoil in financial markets, concerns about China, and falling oil prices.

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