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ECB holds rates at record-low 0.05%; Draghi comments eyed

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Investing.com -

Investing.com - The European Central Bank held its benchmark interest rate at a record low in November, amid ongoing concerns over growth prospects and deflationary pressures in the region, it announced on Thursday.

The ECB said it was maintaining its benchmark interest rate at a record-low 0.05%, in line with market expectations.

The central bank also held its marginal lending at 0.30% and left its deposit facility rate unchanged at -0.20%.

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.

EUR/USD was trading at 1.2516 from around 1.2522 ahead of the release of the data, while EUR/GBP was at 0.7852 from 0.7855 earlier.

Meanwhile, European stock markets remained mixed. The DJ Euro Stoxx 50 fell 0.1%, France's CAC 40 tacked on 0.1%, Germany's DAX climbed 0.1%, while London's FTSE 100 shed 0.1%.

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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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