ECB Keeps Rates Unchanged

Tyler Durden's picture


As was largely expected by the sell-side, the ECB kas kept all three key rates unchanged, just like the BOE 45 minutes earlier. From the ECB:

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.

It is expected that Draghi will tone down his expectations at the press conference in 45 minutes, although what actual steps he will take as opposed to just talking even more, is unclear. As for JPM, which was alone among those calling for a rate cut, it will promptly pull reality's margin and bankrupt the real world, leading to a new, better one, in which JPM is the only surviving entity, allowing the bank to buy and sell any assets it wishes to/from itself, in the process sending the DJIA to that much desired 100,000E10, even as gas/oil prices tumble to negative.

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Thu, 03/07/2013 - 08:50 | 3308222 Bazinga
Bazinga's picture

The more things change the more they stay the same?

Thu, 03/07/2013 - 09:01 | 3308238 stocktivity
stocktivity's picture

It's all Bullshit until Ben stops printing!!!

Thu, 03/07/2013 - 11:24 | 3308662 SAT 800
SAT 800's picture

The six great stars of Astrology are all aligned in one great triangle. It's the year of the Snake. It's the Age of Acquarius. Black clouds are seen far to the West. The people are nervous. The Emperor remains in his Palace, but can decide nothing. The Center cannot hold.

Thu, 03/07/2013 - 08:50 | 3308223 GetZeeGold
GetZeeGold's picture



Not committing suicide today......maybe tomorrow.

Thu, 03/07/2013 - 09:19 | 3308281 cossack55
cossack55's picture

Sooner or later we will all end up in the "Morgue".

Thu, 03/07/2013 - 08:50 | 3308225 observer007
observer007's picture

Spokesman of Monte dei Paschi di Siena dead

Thu, 03/07/2013 - 08:55 | 3308229 Edward Fiatski
Edward Fiatski's picture

Perhaps next time, eh?

Ugly data out of Europe this morning. Speak, Draghi, SPEAK!

Thu, 03/07/2013 - 08:59 | 3308234 q99x2
q99x2's picture

Things get too out of whack and balance will return. The farther JPM takes things the more likely statistics will catch up with them. But you'd a thought by now. Oh well maybe we'll get a copycat from yesterday's jump.

Thu, 03/07/2013 - 08:59 | 3308235 ekm
ekm's picture

I can't see how the current financial system can last for longer than few weeks.

Thu, 03/07/2013 - 09:02 | 3308240 Edward Fiatski
Edward Fiatski's picture

MAJIC! Woooshh

Thu, 03/07/2013 - 09:06 | 3308244 Ghordius
Ghordius's picture

faith - you can't measure faith in days of weeks or years. even Judgment Day is predicted as "coming like a thief in the night", i.e. unexpected

so theologically speaking the more you expect the event to happen soon the more you are actually delaying it ;-)

Thu, 03/07/2013 - 09:10 | 3308251 ekm
ekm's picture

Leverage, it's all about leverage.

Commodities and foods are not reaching the real economy.


Something will happen,very soon. I see empty food shelves in low end grocery stores here in.........Toronto.

Thu, 03/07/2013 - 09:46 | 3308310 Pseudo Anonym
Pseudo Anonym's picture

perhaps walmart around the corner is just about to add a food section and the store owner is calling it quits if this

Something will happen,very soon. I see empty food shelves in low end grocery stores

Thu, 03/07/2013 - 11:29 | 3308694 SAT 800
SAT 800's picture

The secret to how it can last for much longer than a few weeks is that it is not a financial system; it is a faith based cult. Such Cults last until they run head on into "Reality". Reality always wins. Although you might not enjoy it.

Thu, 03/07/2013 - 09:28 | 3308298 gdgenius
gdgenius's picture

"ECB Keeps Rates Unchanged"

Let me show you my shocked face...

Thu, 03/07/2013 - 11:32 | 3308707 SAT 800
SAT 800's picture

Deposit rates are 0.00%? Such a deal, already! Can I get an account there?

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