Nobody was expecting a rate cut (and hopefully not a hike) from the ECB today, and that's precisely what they got when moments ago the ECB announced it would keep its three key rates unchanged as follows:
- Marginal Lending Facility: 0.30%
- Deposit Facility: -0.30%
- Main Refinancing Rate: 0.05%
The full release:
At today’s meeting the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.05%, 0.30% and -0.30% respectively.
The President of the ECB will comment on the considerations underlying these decisions at a press conference starting at 14:30 CET today.
The summary shown below:
Now attention turns to Draghi, but unlike on December 3, with far less excitement.