The ECB's decision to keep interest rates stable at 1.00% was no shock to markets where economists expected that no move on the rate will occur as European economies still struggle their way out of recession with several deficit woes clouding the skies over the Euro zone. The ECB is meanwhile gradually pulling out its stimulus measures, though a recent gesture of keeping the Emergency Collateral threshold at (BBB-) shows that the Euro zone is still nestled under the ECB's wings.

We will be awaiting for further details on the decision in Trichet's press conference at 11:45 GMT.