Forexpros – The European Central Bank left its benchmark interest rate unchanged for the sixth consecutive month in June, despite mounting fears over the euro zone’s ongoing debt crisis, it announced Wednesday.
The ECB said it was maintaining the benchmark interest rate at a record-low 1.0%, in line with market expectations.
The central bank also left its marginal lending and deposit facility rates unchanged at 1.75% and 0.25% respectively, as widely expected.
ECB president Mario Draghi was to comment on the decision at a press conference later in the day.
Market participants will scrutinize Draghi’s comments for clues in regards to the central bank’s next course of action in dealing with an ongoing sovereign debt crisis.
Following the release of the data, the euro held on to gains against the U.S. dollar, with EUR/USD rising 0.35% to trade at 1.2495.
Meanwhile, European stock markets came off their highest levels of the session. The EURO STOXX 50 rallied 1.85%, France’s CAC 40 surged 1.85%, London’s FTSE 100 jumped 1.25%, while Germany’s DAX advanced 1.5%.
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