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ECB Keeps Rates Unchanged, Focus Turns To Draghi Press Conference

Submitted by Tyler Durden on 09/03/2015 07:48 -0400

As expected, there was no change in the ECB's three key interest rates, with the main refi, lending and deposit rates staying where they were at 0.05%, 0.30% and -0.20%, respectively.

From the press release:

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 0.05%, 0.30% and -0.20% respectively.

The President of the ECB will comment on the considerations underlying these decisions at a press conference starting at 14:30 CET today.

This is not a surprise. The question is whether Draghi will hint at, or outright boost, QE in 45 minutes, how much he will cut Europe's GDP and inflation outlook, and whether there will be another confetti shower.

Stay tuned

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Thu, 09/03/2015 - 07:51 | 6503602 buzzsaw99

moar qe with a front end loader bitchez

Thu, 09/03/2015 - 07:55 | 6503609 Money Counterfeiter

Burn that shit to the ground.

Thu, 09/03/2015 - 08:10 | 6503626 Headbanger

The central banksters have got to be scared shitless now knowing their empires are about to implode with the global economy they stupidly propped up way too long with QE

So another QE is not going to happen

Moar like the CBs are in damage control mode now preparing for the SHTF

Thu, 09/03/2015 - 08:31 | 6503682 Titus

I wish you were right, but I don't think the central bankers have your intelligence.

Step 1: More QE

Step 2: ?

Step 3: Profit!

Thu, 09/03/2015 - 07:54 | 6503607 BandGap

Insanity out in the open.

Thu, 09/03/2015 - 07:58 | 6503608 JustObserving

Draghi will do what the Vampire Squid wants it to do. It's good to have your lackeys in high places.

Thu, 09/03/2015 - 07:58 | 6503612 saints51

Remember this ZH pic. Yep this is what I expect him to do. Markets likely up today BIG. I hope I am so wrong.

http://dzswc0o8s13dx.cloudfront.net/goldcore_bloomberg_chart1_18-11-14.png

And here is the ZH article.

http://www.zerohedge.com/news/2014-11-18/my-helicopters-are-ready-you-wi...

Thu, 09/03/2015 - 07:59 | 6503614 Eirik Magnus Larssen

If nothing else, Mario Draghi will be forced to comment on the (dissapointing) quarterly outlook.

Thu, 09/03/2015 - 08:02 | 6503620 buzzsaw99

which would be bullish

Thu, 09/03/2015 - 07:59 | 6503616 wmbz

Whatever Banksters Inc wants...Banksters Inc. gets.

Draghi got the memo with his marching orders. The printers are filled with ink and ready to go into high gear!

Thu, 09/03/2015 - 08:00 | 6503618 theorist

Despite Draghi's desire for QE, the issue is and always has been the Germans. The German Central Bank continues to be hawkish, whatever happnes to the world. You ger the impression that they are being very self serving here, and frankly would only agree to QE if Germany was to find itself in the position of Greece. Having said that, given all the research now coming out of the US demonstrating QE did not do what it was "Supposed to," (Duh...) I wonder what benefit more QE is going to bestow upon the European Union, other than that it is a fancy way of saying we are weakening our currency.

Thu, 09/03/2015 - 08:03 | 6503622 Headbanger

Stop making sense!

Thu, 09/03/2015 - 08:44 | 6503735 ThirteenthFloor

+1. Although it's not about the EU. It's about the cabal/elite always has been.

Thu, 09/03/2015 - 08:02 | 6503621 farmboy

If we would be back 10 years in time and you say to expect lower rates then now "main refi, lending and deposit rates staying where they were at 0.05%, 0.30% and -0.20%, respectively." you would be placed in an asylum now we think it should happen.

Thu, 09/03/2015 - 08:03 | 6503623 DerdyBulls