Investing.com - The European Central Bank held its benchmark interest rate at a record low on Thursday, as policymakers continue to monitor growth prospects and inflationary pressures in the single currency region.
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 at 1:30PM London time, or 8:30AM ET.
Draghi could hint at the possibility of further monetary stimulus with inflation in the euro area still sluggish and as fears linger about slowing global growth led by China.
EUR/USD was trading at 1.1230 from around 1.1229 ahead of the announcement, while EUR/GBP was at 0.7352 from 0.7351 earlier.
Meanwhile, European stock markets were broadly higher. The EURO STOXX 50 rose 1.2%, France's CAC 40 jumped 1.2%, Germany's DAX rallied 1.65%, while London’s FTSE 100 climbed 1.35%.