On Thursday the outcome of the ECB convening were three rates left at their former levels. The key refinancing rate remained at 0.00%, the rate for deposits was left at 0.40% and the ECB credit rate was left at 0.25%. Their asset purchasing program remained at 80 billion euros per month. After the ECB’s decisions were made public, the euro/dollar rose up a little to 1.1350. At the beginning of the press conference it rose further to 1.1397. Draghi spoke about the improving financial conditions and credit situation in the region. But this is where the buck stopped. The tone of his speech became darker. The head of... READ MORE
