The European Central Bank kept interest rates steady on Thursday despite a fall in inflation to its lowest in more than four years, counting on the euro zone recovery to gain strength unaided. The ECB held its main interest rate at a record low of 0.25 percent and the rate for bank deposits at central banks at zero, refraining from taking more drastic measures in the face of fears that the euro zone could slip into deflation. The focus now shifts to a news conference with ECB President Mario Draghi, due to start at 8.30 a.m. GMT, where he is expected to explain the central bank's decision and markets will watch out for any comments that may indicate possible action ahead. "The ECB is likely to give a very strong verbal message that they are willing to take further action on both the rate side as well as on the side of quantitative easing (QE)," Michels said.
via Business News - Yahoo Finance http://ift.tt/1sbXYe7
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