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Macroeconomics  |  August 02, 2012 15:12:00

The ECB left interest rates unchanged

The Governing Council of the European Central Bank meeting today decided to leave interest rates at record low. The main interest rate remained at 0.75%, the marginal rate to 1.50% and deposit rate to 0.00%. The decision was in line with the expectations of the majority. Central bank last cut interest rates in July by a quarter percentage point. ECB president Mario Draghi justify today's decision at a press conference at 14:30. Last week he promised that the central bank will do, within its mandate anything to keep the euro.This suggests that it is ready for some form of quantitative easing in order to reduce peripheral bond yields.

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