- Deposit rate left at 2.00%
- Main refinancing rate left at 2.15%
- Marginal lending facility left at 2.40%
The market was pricing 99% probability of no change, so there’s nothing surprising here. There is just 6 bps of easing priced in by year-end, so the ECB is expected to remain on hold for the rest of the year.
Next, we have the ECB Press Conference at 13:45 GMT/08:45 ET.
Highlights from the statement:
