CT: ECB leaves rates unchanged as markets await QE details
The European Central Bank (ECB) once again held its main interest rate at a record low of 0.05 per cent, with the bank is expected to reveal more details of its €1 trillion quantitative easing programme later today.
The euro slumped to to an 11-year low against the dollar yesterday ahead of today's press conference. The ECB is expected to detail the ins and outs of its bond-buying programme as well as which assets it intends to buy.
The ECB will also publish its latest economic forecast with analysts predicting gross domestic product growth for 2015 and 2016 to be revised upwards, and falling oil prices to be factored in taking inflation projections lower.
Frankfurt initially unveiled its quantitative easing package designed to the combat falling inflation rate in January. ECB governor Mario Draghi had to battle policymakers who had been reluctant to pass the policy.
