As is normally the case, the ECB did not provide any details aside from its headline rates decision in the monetary policy decision press release, which as was expected by virtually everyone, were unchanged across the board [3].
At today’s meeting, which was held in Nicosia, 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 2.30 p.m. CET today
In other words, in most places across New Paranormal Europe, borrowers will continue to get paid and savers will continue to get punished.
What other tricks does Draghi have up his sleeve? Tune in in 45 minutes for the press conference straight from Nicosia to find out.