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ECB Holds Rate Unchanged, Announces Strategy Review

The European Central Bank held its key interest rates, asset purchases and forward guidance unchanged on Thursday, and announced the launch of a review of its monetary policy strategy.

The Governing Council, led by ECB President Christine Lagarde, decided to keep the refi rate unchanged at a record low 0 percent, the deposit rate at -0.50 percent and the marginal lending rate at 0.25 percent. The move was in line with economists' expectations.

The previous change was a 10 basis points cut in the deposit rate in September.

The bank also retained its forward guidance on both interest rates and asset purchases.

Lagarde is set to hold the post-decision press conference at 8.30 am ET when she will give the details of the scope and timetable of the strategy review.

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