Investing.com – The European Central Bank left its benchmark interest rate unchanged in January, after cutting rates in the two previous meetings, it announced on Thursday.
The ECB said it was maintaining the benchmark interest rate at a record-low 1.0% for the second consecutive month, in line with market expectations.
The central bank cut rates to 1.0% from 1.25% in its previous meeting in December.
ECB president Mario Draghi, who chaired his third interest rate meeting as ECB chief, was to comment on the decision at a press conference later in the day.
Following the announcement, the euro held on to gains against the U.S. dollar, with EUR/USD climbing 0.5% to trade at 1.2771.
Meanwhile, European stock markets were broadly higher. The EURO STOXX 50 jumped 1.65%, France’s CAC 40 rose 1.25%, Germany's DAX rallied 1.5%, while the FTSE 100 gained 0.4%.
The ECB said it was maintaining the benchmark interest rate at a record-low 1.0% for the second consecutive month, in line with market expectations.
The central bank cut rates to 1.0% from 1.25% in its previous meeting in December.
ECB president Mario Draghi, who chaired his third interest rate meeting as ECB chief, was to comment on the decision at a press conference later in the day.
Following the announcement, the euro held on to gains against the U.S. dollar, with EUR/USD climbing 0.5% to trade at 1.2771.
Meanwhile, European stock markets were broadly higher. The EURO STOXX 50 jumped 1.65%, France’s CAC 40 rose 1.25%, Germany's DAX rallied 1.5%, while the FTSE 100 gained 0.4%.