ECB Leaves Rates Unchanged; Draghi To Detail QE Progress

The European Central Bank, as expected, left official interest rates unchanged Wednesday. The bank's refi rate remains at 0.05%, while the interest rate on its marginal lending facility stands at 0.3% and the deposit rate at minus 0.2%. ECB President Mario Draghi will hold a news conference at the bank's Frankfurt headquarters beginning at 2:30 p.m. local time, or 8:30 a.m. Eastern. Draghi is expected to provide an upbeat assessment of the impact of the bank's quantitative easing program.