(RTTNews) - The European Central Bank will announce its rate decision at 7.45 am ET. The central bank is likely to cut its record low benchmark interest rate, known as the refi, to 0.50 percent from 0.75 percent.
The euro held steady against its major rivals ahead of the rate decision. As of 7:40 am ET, the common currency was trading at 99.0 against the yen, 1.2615 against the dollar, 0.7930 against the pound and 1.2050 against the franc.
