The European Central Bank kept its main refinancing rate unchanged at a record low of 1 per cent today, as expected.
Markets are now turning their attention to President Jean-Claude Trichet's news conference later today when he will explain the decision and present the ECB's updated staff projections for GDP and inflation.
The ECB also kept its overnight deposit rate, which acts as a floor for money markets, at 0.25 per cent and left its marginal lending rate at 1.75 per cent.
All 80 economists in a Reuters poll expected the ECB to leave rates on hold.
The ECB has lowered its rates from 4.25 per cent since October as the financial crisis wreaked havoc in the euro zone economy and inflation risks have subsided.
Since the ECB's August meeting, figures have shown Germany and France came out of recession in the second quarter and upbeat survey data have fanned hopes that the euro zone economy may return to growth in the current quarter.
From RTE news, I don't have the link.
I wonder how long they will keep it at this level?