The European Central Bank, as expected, left interest rates unchanged Thursday, saying it would continue its program of asset purchases through September, "or beyond, if necessary." The ECB left its refinancing rate at 0%, while the rate paid on deposits parked overnight at the bank was left at negative 0.4% and the rate on the deposit facility was left at 0.25%. The ECB repeated that it expects rates to remain at present levels "for an extended period of time, and well past the horizon of the net asset purchases." ECB President Mario Draghi's news conference is set to begin at 2:30 p.m. Frankfurt time, or 8:30 a.m. Eastern.
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