ECB Holds Eurozone Interest Rate

In today’s press conference. Mario Draghi the president of the European Central Bank announced the rate was held at 1.0 percent. Mr. Draghi addressed the overall positive effects of the LTRO program and he reiterated that its too early to tell if those effects are wearing off.

He was confident in general about Spain and Italy, but did comment that he understand the frustration of the unemployed youth, but condemns the violence.

On an interesting note, ECB President Draghi declined to comment on the potential impact to the Eurozone of France’s presidential elections.

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza