European markets hold steady after ECB rate cut
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FILE PHOTO: A view shows the board of the European Central Bank (ECB) building, on the day of the monthly news conference following the ECB's monetary policy meeting in Frankfurt, Germany, September 14, 2023. REUTERS/Wolfgang Rattay/File Photo
LONDON (Reuters) - Euro zone government bond yields, the euro and European stocks held steady on Thursday after the European Central Bank cut its main interest rate for a second time in three meetings, in line with expectations.
The euro was last at $1.1019, up less than 0.1%.
The German 10-year bond yield, the benchmark for the euro zone, was little changed after the decision at 2.124%, up two basis points on the day.
The pan-European benchmark STOXX 600 index held gains and remained higher by 1.1%, while an index of euro area banks was up 1.8%.
Attention was now set to turn to the post-decision press conference from ECB President Christine Lagarde at 1245 GMT.
(Reporting by Samuel Indyk; Editing by Amanda Cooper)
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