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ECB holds rates at record-low 0.15%; 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 July, amid ongoing concerns over deflationary pressures in the region, it announced on Thursday.

The ECB said it was maintaining its benchmark interest rate at a record-low 0.15%, in line with market expectations. The central bank also held its marginal lending at 0.40% and left its deposit facility rate unchanged at -0.10%.

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 held on to losses against the U.S. dollar, with EUR/USD shedding 0.05% to trade at 1.3653, compared to 1.3653 ahead of the announcement.

Meanwhile, European stock markets remained higher. The DJ Euro Stoxx 50 picked up 0.35%, France's CAC 40 advanced 0.3%, Germany's DAX rose 0.65%, while London's FTSE 100 tacked on 0.5%.

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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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