No surprise this morning from the ECB [3], 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.