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Pound Stays Higher Versus Euro After ECB Holds Rates at 1%

The pound stayed stronger against the euro after the European Central Bank held its key interest rate at 1 percent.

Sterling appreciated 0.4 percent to 83.50 pence per euro at 12:47 p.m. London time. It was 0.3 percent stronger at $1.5867.

ECB policy makers meeting in Frankfurt left the benchmark interest rate at a record low of 1 percent, as predicted by all but two of 57 economists in a Bloomberg News survey. At a press conference at 2:30 p.m., President Mario Draghi will be questioned on whether the ECB intends to use its Greek bonds to help the embattled nation reduce its debt.

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