ECB Keeps Rate Unchanged At 0.75% As Expected
Any fringe hopes that the ECB may cut its discount rate to negative were just dashed as Goldman, pardon the ECB, decided to keep rates unchanged, largely as expected.
From the ECB:
6 December 2012 - 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 0.75%, 1.50% and 0.00% 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.
Mario Draghi's press conference, which too will be a snooze, due in 45 minutes at 8:30 am Eastern.
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