ECB cuts all three rates in June

FXStreet (Łódź) - As expected, the European Central Bank decided to cut its main refinancing rate from 0.25% to 0.15% in June, after keeping it unchanged for six consecutive months.

The central bank also decreased the deposit rate by 35 basis points to 0.40%, and the marginal lending facility rate by 35 basis points to 0.40%. All of these reductions will come into effect on June 11.

Attention now turns to Mario Draghi's press conference at 12:30 GMT during which he will comment on the decision.