ECB Leaves Rates, Guidance Unchanged

The European Central Bank (ECB) left its interest rates and policy guidance unchanged Thursday, as expected, even as the eurozone economy shows increasing signs of recovery.

The ECB announced that its main interest rate would remain at +0%, while the rate on overnight deposits would stay at -0.4%, both record lows.

The central bank also reinforced its forward guidance, saying that it expected ECB interest rates “to remain at present or lower levels for an extended period of time, and well past the horizon of the net asset purchases.”

Next up is ECB President Draghi’s press conference at 08:30 am EST.

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Dean Popplewell

Dean Popplewell

Vice-President of Market Analysis at MarketPulse
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
Dean Popplewell