ECB Keeps Interest Rate Unchanged At 1.25%
As expected the main financing rate is unchanged at 1.25% (and by implication the Marginal Lending Facility remains at 2.00% while the Deposit Facility remains at 0.50%). The EURUSD is drifting modestly higher but nothing remarkable. The key continues to be the upcoming conference.
From the press release:
9 June 2011 - Monetary policy decisions
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 1.25%, 2.00% and 0.50% respectively.
The President of the ECB will comment on the considerations underlying these decisions at a press conference starting at 2.30 p.m. CET today.
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