ECB Holds Rates Steady
The European Central Bank held its benchmark interest rate at 1.0 percent on Thursday, as expected, taking a step back to assess how the bank’s measures have impacted the euro zone’s economic outlook and to weigh inflation risks posed by the recent spike in oil prices.
The interest rate on the central bank’s deposit facility will remain at 0.25 percent, and the rate on the marginal lending facility will remain 1.75 percent.
Financial markets will now be looking for hints as to whether the ECB will keep rates on hold for an extended period of time, or whether it is preparing to cut them further in the coming months.
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