ECB Interest Rate Held at 0.75%

At today’s meeting of the  Governing Council of the ECB  it  was decided that the interest rate on the main refinancing operations  will remain unchanged at 0.75%.  It has been 0.75% since July.

Comments on Wednesday by President Mario Draghi on the weak economic outlook and gloomy European Commission forecasts increased  speculation that a rate cut was on the way.

A Reuters poll this month – had given an 80 percent chance the ECB would hold its  rate, but most of the 73 analysts polled expected it will be cut to a new record low of 0.5 % within the next few months.