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European Central Bank keeps interest rate at 1.00%

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Forex Pros - The European Central Bank kept its benchmark interest rate unchanged for the 22nd consecutive month in March, it announced on Thursday.

The ECB said it was maintaining the benchmark interest rate at 1.00%, in a widely expected move.

ECB president Jean-Claude Trichet was to comment on the decision at a press conference later in the day.

Following the announcement, the euro was down against the U.S. dollar, with EUR/USD slumping 0.07% to hit 1.3855.

Meanwhile, European stock markets were broadly higher. The EURO STOXX 50 jumped 1.21%, France's CAC 40 surged 1.14%, Germany's DAX rallied 1.33%, while the FTSE 100 gained 1.15%.

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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.

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