ECB Keeps Rate Unchanged At 0.75% As Expected

Tyler Durden's picture

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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GetZeeGold's picture

 

 

Look like they decided today wasn't a good day to die.

LongSoupLine's picture

I'm sure it's a complete shock to those who control the "market".  Fucking dickheads.

JPM Hater001's picture

Confidence must be high... or they are.

hugovanderbubble's picture

Whole Spanish Covered Bonds  = are junk and most of them will default YES OR YES next days.

 

Not on the wires yet

 

- Be careful with massive debt haircuts in spanish real estate hybrids

 

*BAD FOR SPANISH 5 and 10 yrs bonds...

 

SELL SPAIN TILL 3.900-4.500 points index (IBEX)

asteroids's picture

Mario, the flaming asshole that he is, will surely same something arrogant and self serving.

youngman's picture

I predict there will be no change for 5 years....they can´t change....they can't raise rates as their debts will bury them....USA...EU..Japan...no one will change...its 0% from here till the crash

firstdivision's picture

They will be lowering that rate in about a years time.

JethroTull's picture

At some point we're all going to pay the printing presses gone amok!