ECB leaves interest rates unchanged
2013-06-06 17:24:02
The European Central Bank left its key interest rate unchanged on Thursday, after a reduction in the previous month.
The Governing Council led by ECB President Mario Draghi maintained the main refinancing rate at a record low 0.50%, in line with economists' expectations. The move came after a quarter-basis point reduction in May, the first rate cut in nine months.
The bank also held the marginal lending facility rate at 1.50 percent, following a 50 basis points cut last month. The zero deposit rate was also left unchanged.
Draghi will hold the post meeting press conference at 8.30 am ET where he is expected to unveil the latest ECB staff macroeconomic projections that are unlikely to see any major revisions. He is also expected shed some light on steps to boost lending to small and medium-sized businesses.