The big news earlier today was ECB President Christine Lagarde announcing that she will depart in February.Bank in April on Bloomberg TV she said: "When there is big clouds on the horizon, the captain does not leave the ship— and this captain is not going to leave the ship, because I see clouds."So I guess she doesn't see clouds any longer.In any case, here are the headlines:Main refi rate 2.65% vs 2.65% expectedDeposit rate 2.50% vs 2.50% expectedMarginal lending facility at 2.90% vs 2.90% expectedSays energy prices continuing to rise, posing upside risks to inflation outlook and downside risks to growthUnderlying inflation has remainded broadly stable so far and wages do not show a material response at this stageWell positioned to navigate uncertaintyECB is not pre-committing to a particular pathECB says stands ready to adjust all of its instruments within its mandate to ensure that inflation stabilizes at its 2% targetrThe market was pricing in a 13% chance of a surprise hike this month but that rises to 65% in December. Ahead of the decision, the euro was down 21 pips to 1.1131 as it hovers near the lows of the year. The knee-jerk reaction to the decision has been minimal.EURUSD daily: This article was written by Adam Button at investinglive.com.