ECB SAYS LEAVES INTEREST RATE ON DEPOSIT FACILITY UNCHANGED AT 2.50% (REUTERS POLL 2.50%)

The European Central Bank kept its deposit facility rate unchanged at 2.50%, matching the median expectation in a Reuters poll of economists. The decision confirms that policymakers are holding policy steady rather than extending the easing cycle, which keeps the rate differential between the euro and major counterparts such as the U.S. dollar and sterling largely intact. Euro-denominated short-dated government bonds and money-market rates are the most directly exposed, as their pricing tracks the deposit rate and forward expectations for future ECB moves. Euro area equities, particularly rate-sensitive sectors such as banks and utilities, may also reprice as traders reassess the likely path of financing costs. The next catalyst to watch is the euro area flash HICP inflation release, since incoming price data will determine whether markets pull forward or push back expectations for the next policy move.

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