FXstreet.com (Barcelona) - The European Central Bank Monetary Policy Committee has decided to leave its Refi Rate unchanged at 1.0% after its monetary policy meeting.

The European Central Bank, as usual did not give any further explanation, so all the eyes are set on the press conference Mr. Trichet will hold later at 12.30 GMT for hints about the bank's assessment about quantitative easing measures.

The Euro has continued with its slight decline against the Dollar from 2-week high at 1.4785 to test 1.4750 and currently EUR/USD is trading around 1.4750/60, 0.45% above today's opening price action at 1.4688.