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ECB Leaves Benchmark Rate Unchanged At 0.5% As Expected

Tyler Durden's picture
Submitted by Tyler Durden on 10/02/2013 07:49 -0400



 

No surprise this morning from the ECB, which keeps its benchmark rate at 0.5% and the deposit rate at 0.00%.

At today’s meeting, which was held in Paris, 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 0.50%, 1.00% 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.

More at the press conference in 45 minutes when Draghi may or may not announce yet another forced LTRO, at a time when all of Europe is deleveraging at a record pace.

 
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Wed, 10/02/2013 - 07:52 | 4013247 Al Capowned
Al Capowned's picture

The real question is can you still get spiderman towels for bank deposits?

Wed, 10/02/2013 - 08:18 | 4013295 Alpha Dog Food
Alpha Dog Food's picture

Watching cartoons is marginally better than this comedy.

 

My favourite here is 'Whatever Happened To The Occupy Movement'

http://www.youtube.com/user/mrjosephmorgan/videos

 

Wed, 10/02/2013 - 07:51 | 4013248 DaddyO
DaddyO's picture

Did anyone one think things would change significantly?

They can't do anything but ride this nag until she drops from exhaustion...

DaddyO

Wed, 10/02/2013 - 08:01 | 4013255 GetZeeGold
GetZeeGold's picture

 

 

Just for fun they should have said they were going to raise rates.....and then 15 minutes come back and said they were just kidding.

Wed, 10/02/2013 - 08:06 | 4013274 Ghordius
Ghordius's picture

continental europeans are not famous for their sense of humour, remember? this kind of "fun" is generally more appreciated in Oceania

Wed, 10/02/2013 - 08:26 | 4013309 Poor Grogman
Poor Grogman's picture

It's a shame that Central Banks are boring as bat- shit.

Otherwise more people might take an interest in what is going on there.

Wed, 10/02/2013 - 07:58 | 4013256 hedgeless_horseman
hedgeless_horseman's picture

 

 

Did they leave the Reserve Ratio at 1%?

Pitiful.

Wed, 10/02/2013 - 07:56 | 4013257 prains
prains's picture

At this point in time SpongeBob could pretty much run things in Europe

Wed, 10/02/2013 - 11:13 | 4013819 southerncomfort
southerncomfort's picture

please do not offend spongebob in this manner.

Wed, 10/02/2013 - 08:21 | 4013301 LawsofPhysics
LawsofPhysics's picture

The capital and resource mis-allocation and mal-investment shall continue!  ZIRP to become NIRP and "mark to fantasy" forever.

Fuckers, nothing changes until the moneychangers are executed.

 

Wed, 10/02/2013 - 11:11 | 4013807 southerncomfort
southerncomfort's picture

isn't europe middle east II sans sand and oil?

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