Fourteen of the 15 economists in a poll had predicted the latest rate decision correctly.
In regards to the ECB, more important than the rate decision itself was the press conference that followed.
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Traders will also be eagerly awaiting the Fed rate decision at 2:15 ET.
Economists are now watching for the wholesale inflation data for February due Thursday for cues on the rate decision.
The statement accompanying this week's rate decision was explicitly neutral about future action.
Its next rate decision is scheduled for Aug. 27, and consensus expectations are for it to stand still at 6.00%.
The euro was under pressure early Wednesday, but has been able to halve the early losses as traders await the US FOMC rate decision and monetary policy statement.
While most of Wall Street was dawdling around unchanged ahead of the Federal Reserve's rate decision on Tuesday afternoon, technology shares got a lift from an upbeat outlook at Texas Instruments .
The Bombay Stock Exchange's 30-share benchmark Sensex, which had been trading flat before the rate decision, ended down 1.5%, while the yield on Indian government bonds rose to 7.90% after the announcement, from 7.86% earlier.
The Bombay Stock Exchange's 30-share benchmark Sensex, which had been trading flat before the rate decision, was 1.3% lower just before 0800 GMT while the yield on Indian government bonds rose to 7.90%, compared with 7.86% earlier.
The euro rose in value, around the time the rate decision was announced, only to fall through the floor later on during the ECB President's press conference, falling 0.7% against the dollar in not very much time at all.
The Bank of Korea's surprise rate cut decision on Thursday indicates that South Korea, whose net exports represent nearly 60% of its gross domestic product, has joined the global currency war.
In just a few minutes we will have word from the US FOMC regarding their interest rate and monetary policy decision.
Mr King's cautious confidence about the prospects for inflation and the narrowness of the rate-setters' decision both suggest that the bank will now be less aggressive in raising rates than the markets had feared.
Bottom line: As the rate of childlessness equalizes the decision to have or not have children becomes more of a voluntary one.
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Stock markets, which rallied on Tuesday, rose in the aftermath of the decision, while the rate on 10-year Treasuries slid to 1.65% and gold inched up.
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Draghi added that the central bank had looked at consumer price inflation in the euro zone over two to five years in order to make the decision, and the rate hike had also been a response to lower purchasing power.
They criticised the decision to raise the supplementary rate of corporation tax on the industry.
His bold decision to separate interest-rate changes from short-term political calculations has proved an unqualified success.
Veteran Conservative John Redwood praised the Chancellor' s decision to cut the top rate of income tax from 50p to 45p.
In Tuesday's Labour conference speech, Mr Miliband attacked the government's decision to reduce the top rate of income tax from 50% to 45% next April.
In future every person will undergo an independent assessment of their medical condition - and the decision will then dictate which rate of payment they receive.
The Fed's decision means that the discount rate, the interest rate that the Fed charges to make direct loans to banks will be lowered to 5.75 percent from 6.25 percent.
His crucial revenue-raising decision was to increase the main rate of VAT, a consumption tax, from 17.5% to 20% in January 2011.
Having been opposed to the Conservative government's decision to join the European exchange rate mechanism (ERM), he had to deal with "Black Wednesday".
The emerging world's determination to accumulate reserves, especially China's decision to hold down its exchange rate, sent a wash of capital into America.
In comments following the bank's widely anticipated decision to leave its benchmark interest rate unchanged at 0.75 percent, Draghi confirmed that an interest rate cut was discussed.
This involved a decision by Barclays to manipulate the rate during the credit crunch of 2007-08, with the purpose of avoiding the impression that Barclays was in trouble.
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