Investing.com - The European Central Bank held its benchmark interest rate at a record low in March, amid ongoing concerns over growth prospects and deflationary pressures in the region, it announced on Thursday.
The ECB said it was maintaining its benchmark interest rate at a record-low 0.05%, in line with market expectations. The central bank also held its marginal lending at 0.30% and left its deposit facility rate unchanged at -0.20%.
ECB president Mario Draghi was to comment on the decision at a press conference later in the day. Draghi was expected to shed more light on how the bank will implement its €1.1 trillion quantitative easing program, which is due to start this month.
EUR/USD was trading at 1.1060 from around 1.1058 ahead of the announcement, while EUR/GBP was at 0.7255 from 0.7252 earlier.
Meanwhile, European stock markets were broadly higher. The EURO STOXX 50 rose 0.75%, France's CAC 40 tacked on 0.9%, Germany's DAX climbed 0.75%, while London’s FTSE 100 inched up 0.4%.