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ECB holds rates at 0.75%; Draghi comments eyed

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Investing.com - The European Central Bank left its benchmark interest rate unchanged at a record low for the eighth consecutive month in March, it announced on Thursday.

The ECB said it was maintaining the benchmark interest rate at a record-low 0.75%, in line with market expectations.

The central bank also left its marginal lending and deposit facility rates unchanged at 1.50% and 0.0% respectively, as widely expected.

ECB president Mario Draghi was to comment on the decision at a press conference later in the day.

Market participants will scrutinize Draghi's comments for clues in regards to the central bank's next course of action in dealing with an ongoing sovereign debt crisis.

Following the announcement, the euro added to gains against the U.S. dollar, with EUR/USD climbing 0.55% to trade at 1.3038.

Meanwhile, European stock markets remained higher. The EURO STOXX 50 rose 0.35%, France's CAC 40 added 0.4%, Germany's DAX advanced 0.2%, while London's FTSE 100 tacked on 0.2%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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