ECB Keeps Interest Rates Unchanged

Oct 2, 2014, (7:45AM EDT )

As expected, the European Central Bank has kept its short term interest rates  unchanged.

The central bank’s president, Mario Draghi will talk about the bank’s forward guidance in a news conference in half an hour from now.

It looks like the ECB has not said anything about any QE or easing methods as DAX has started losing its earlier gains.

European markets had a very volatile session till now, dropping down at first and then climbing up to turn positive in later hours.

Markets will now wait for Draghi to announce the promised QE or asset purchase program. Based on rumors, perceptions and assumptions, markets will continue to trade with high volatility till the ECB president’s press conference is over.

More to follow, stay tuned.

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