European Central Bank Leaves Interest Rates Unchanged; Focus On Draghi

The European Central Bank, as expected, made no changes to official interest rates on Thursday. The central bank said its Governing Council decided to leave the interest rate on main refinancing operations at 0% and the deposit rate it charges banks to hold money overnight at minus 0.4%. The rate on the ECB's marginal lending facility was maintained at 0.25%. The main event will be ECB President Mario Draghi's news conference, scheduled to get under way at 2:30 p.m. local time in Vienna, or 8:30 a.m. Eastern. Draghi is expected to maintain a dovish stance but will be closely watched for clues to policy makers' expectations for inflation and the potential response to outside shocks, including Britain's potential exit from the European Union.

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