ECB Leaves Rates Unchanged; Draghi In Focus

By William L. WattsMarketWatch Pulse

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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