NewsBreak - ECB Holds Steady, Focus Turns to Lagarde

Investing.com - The European Central Bank left key rates on hold on Thursday, at its first meeting chaired by new president Christine Lagarde.

Attention will now turn to Lagarde’s first press conference at 08:30 AM ET (01:30 GMT) as investors look for clues about the future of stimulus plans

Deposit rate facility remains at -0.50%

Main refinancing rate remains at 0.00%

Marginal lending facility remains at 0.25%

Rates to remain at present or lower levels until inflation outlook robustly converges to a level sufficiently close to, but below 2%, ECB statement says

Bond buying to continue until "shortly before" rates are raised

Expects QE to run "for as long as necessary"

EUR/USD at 1.1130 from around 1.1132 ahead of the announcement

EUR/GBP at 0.8456 from 0.8451 earlier

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