HERE COMES THE ECB ...

Mario Draghi ECB governing council board

Heads up! The European Central Bank announces its monthly interest rate decision at 7:45 AM ET.

According to a Bloomberg survey, the near unanimous consensus among Wall Street economists is that the ECB will elect to leave the benchmark refinancing rate unchanged at 0.75 per cent and the deposit facility rate unchanged at 0 per cent. BNP Paribas are the only ones predicting a rate cut.

ECB President Mario Draghi will hold a press conference and Q&A session with reporters at 8:30 AM ET. Of interest will be the recent financial crisis in Cyprus and the way euro zone officials handled the bailout. Other topics of discussion will likely include future financial assistance to Slovenia if necessary and the recent deterioration in economic data across the euro zone.

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