European equities closed higher on Wednesday after the European Central Bank (ECB) held its key interest rates unchanged.
The pan-European FTSEurofirst 300 wobbled around the flat line in early trade, before closing lower 0.11 percent. The ECB opted to keep its key refinancing interest rate at a record low of 0.05 percent, its deposit facility at -0.20 percent and the marginal lending facility at 0.3 percent.
At his monthly press conference following the ECB governing council meeting, bank President Mario Draghi also raised inflation expectations for this year to 0.3 percent. Inflation next year is seen at 1.5 percent. During the speech, the euro rose 0.2 percent on the day against dollar.
London's FTSE 100 index closed higher around 0.3 percent, ahead of the Bank of England's rate announcement Thursday. Like other European markets, the French CAC closed higher at 0.6 percent, with Germany's DAX closing around 0.8 percent.