Europe: European Central Bank Keeps Interest Rate Unchanged At 1.50%6 October, 2011, 19:50. Posted by Zarathustra
Tags: ECB, Economy, Europe, European Central Bank
The European Central Bank just leave the main refinancing operation rate unchanged at 1.5%. Both marginal lending facility and deposit facility rates have been maintained as well at 2.25% and 0.75% respectively.
There have been some hope for a rate cut, although given the inflation picture, I don’t think the market really expected a rate cut from the ECB. The Euro isn’t moving much after the announcement, only slightly lower. Stocks aren’t that impressed, of course.
The more important bit will be the last Jean-Claude Trichet post-rate decision presser as the president of the ECB can be watched below in about 40 minutes time. It will be interesting to see what he has to say about the on-going European debt crisis, as well as the latest assessment of economic outlook.