ECB leaves benchmark interest rate unchanged

The European Central Bank has left its benchmark interest rate on hold at zero.

The ECB also held the rate on its marginal lending facility unchanged at 0.25% and the rate on the deposit facility steady at -0.4%.

It's worth noting that the decision to hold interest rates was in line with expectations.

The ECB will start buying corporate bonds as part of its stimulus programme from June 8. The ECB will also conduct the first operation in its new series of targeted longer-term refinancing operations (TLTRO) on June 22.