FOREX-Euro on the ropes as ECB set to stick to QE despite recent pickup

April 15, 2015 12:02 PM

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LONDON, April 15 (Reuters) - The euro fell broadly on Wednesday, after the European Central Bank kept borrowing rates unchanged, as expected, and is likely to reiterate a dovish policy bias despite a recent pick-up in economic activity.

At Wednesday's meeting, the ECB left its main refinancing rate, which determines the cost of credit in the economy, at 0.05 percent. It also kept the rate on bank overnight deposits at -0.20 percent, which means banks pay to park funds with it.

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