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ECB plunged into the corporate bond market

There were no data releases from Eurozone today. The European Central Bank entered new territory in its efforts to stimulate the euro region’s flagging economy, plunging into the corporate bond market on Wednesday and buying the debt of some of the continent’s biggest companies. Investors are watching for an indication of whether they were right to pile into investment-grade corporate bonds on the promise of ECB President Mario Draghi’s purchases. 
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ECB left interest rates unchanged

As it was widely expected ECB left interest rates unchanged at today's meeting in Vienna. ECB left its headline interest rate at record low of zero. The bank held the deposit rate at -0.4% and the marginal lending facility at -0.25% at its monetary policy meeting. The ECB revised its inflation forecast for 2016 up to 0.2% from 0.1% before, but kept its inflation forecasts for 2017 and 2018 at 1.3% and 1.6% respectively. Draghi warned that inflation in the euro area is likely to remain very low, or negative, for some time.
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Euro slightly higher in a quite Wednesday's trade

There are no major economic reports today so traders are expected to remain cautious while focusing their attention on the possibility of a U.K. exit from the European Union, renewed issues with Greece and the fear of deflation. The European Central Bank would like to see a weaker Euro, but investors have not cooperated, sending the single currency to its highest price since late August 2015 just last week. 
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ECB's Constancio: Other actors need to play their part

Speaking at the International Financials services event in London ECB member Constanico said that besides the ECB's determination to pursue its expansionary policies, other actors need to do their part. Uncertainties remain and further bouts of volatility cannot be precluded. ECB will continue to do what is necessary to achieve its goal of reaching a level of inflation close to 2% and enough policy tools can still be used, he said. 
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