As largely expected, except for some die hard contrarians, and as we predicted, the ECB keeps rates unchanged, and checks to the Fed. Now everyone turns attention to 8:30 am press conference where those who provide investment advice based on coin flips what central bankers do, will pray to their assorted gods that Draghi will fix everything. Or at least something.
From the press release:
6 June 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.