As expected, the European Central Bank voted today to keep the main refinancing operations rate steady at 1.25%, while also maintaining the marginal lending facility at 2.00% and the deposit facility at 0.50%.

The rates remain intact since the last move in April by a quarter percentage point increase on rates and have been effective since April 13, 2011.

The focus now remains in the press conference following the decision and whether President Trichet will signal a rate hike for July as the market anticipates.