ECB meeting: Refi rate kept unchanged at 0.05%

FXStreet (Mumbai) - The European Central Bank (ECB), as widely expected, kept official interest rates unchanged. The ECB held its main refinancing rate at 0.05% and maintained the rate on overnight deposits at minus 0.2%. The rate on the ECB's marginal lending facility remains at 0.3%.

The investors now shift attention to the ECB President Mario Draghi’s press conference. Draghi is likely to face questions on the ECB’s QE program. However, markets would be more interested to hear Draghi’s take on the Greek deal saga. The banks is widely expected to revise its inflation forecasts higher in light of a weaker Euro and higher oil prices.