ECB keeps policy rates unchanged, as expected

The interest rate on the main refinancing operation facility was kept at 0.00%, with those on its marginal lending facility and the deposit facility also steady, at 0.25% and -0.40%, respectively, the Frankfurt-based ECB said in a statement.

The ECB also kept its guidance for quantitative easing steady, saying the current pace of €60.0bn were intended to run until December 2017, or beyond, if necessary, and in any case until the Governing Council sees a sustained adjustment in the path of inflation consistent with its inflation aim.

Should the outlook become less favourable or if financial conditions worsened sufficiently, then the ECB continued to stand ready to increase the amount of its repurchases.

Traders' eyes now move to ECB president Mario Draghi's press conference which is scheduled to begin at 1330 BST.

Euro/dollar was little changed following the rate announcement, down 0.22% at 1.1487.