Breaking: ECB leaves key rates and slows pace of PEPP, EUR/USD holds steady above 1.1800

The European Central Bank (ECB) decided to leave the interest rates on the main refinancing operations, the marginal lending facility and the deposit facility unchanged at 0.00%, 0.25% and -0.50%, respectively, as expected.

Market reaction

The initial market reaction, so far, has been muted and the EUR/USD pair was last seen trading with modest gains around the 1.1830 region.