Investing.com - The European Central Bank held its benchmark interest rate at a record low in October, in a bid to bolster faltering growth in the region, it announced on Wednesday.
The ECB said it was maintaining its benchmark interest rate at a record-low 0.5%, in line with market expectations. The central bank also held its marginal lending at 1% and left its deposit facility rate unchanged at 0.0%.
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 announcement, the euro held on to losses against the U.S. dollar, with EUR/USD shedding 0.1% to trade at 1.3513.
Meanwhile, European stock markets remained lower. The EURO STOXX 50 fell 0.1%, France’s CAC 40 dipped 0.5%, Germany's DAX declined 0.35%, while London’s FTSE 100 slumped 0.55%.
The ECB said it was maintaining its benchmark interest rate at a record-low 0.5%, in line with market expectations. The central bank also held its marginal lending at 1% and left its deposit facility rate unchanged at 0.0%.
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 announcement, the euro held on to losses against the U.S. dollar, with EUR/USD shedding 0.1% to trade at 1.3513.
Meanwhile, European stock markets remained lower. The EURO STOXX 50 fell 0.1%, France’s CAC 40 dipped 0.5%, Germany's DAX declined 0.35%, while London’s FTSE 100 slumped 0.55%.