ECB Keeps Rates Unchanged As Expected
No surprise in today's ECB announcement. The Press conference in 45 minutes is also expected to be largely a non-event, although we will be delighted to hear Mario's response to the quality of Europe's collateral backing the trillions in fresh discount window borrowings spent on buying up Spanish and Italian bonds, which are gradually going underwater.
4 April 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 1.00%, 1.75% and 0.25% 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.