The European Central Bank has decided to leave interest rates unchanged. This means that the refinance rate will remain at 0.75%.
Today’s statement from the monetary policy decisions says:
At today’s meeting the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.75%, 1.50% and 0.00% respectively. The President of the ECB will comment on the considerations underlying these decisions at a press conference starting at 2.30 p.m. CET today.
Greece did pass the unpopular austerity measures, and we are awaiting weekly jobless claims from the U.S. Labor Department this morning at 8:30 a.m. EST. Dow futures are up 43 points and S&P 500 futures are up 2.75 so far this morning. Mario Draghi will be speaking later this morning.
JON C. OGG