ECB holds key rate steady at 0.25 %

ECB holds key rate steady at 0.25 %

 

Frankfurt (AFP)

 

The European Central Bank held its key interest rates steady as largely expected on Thursday.

 

The ECB left its central "refi" or refinancing rate unchanged at 0.25 percent at its monthly policy meeting, it said in a statement.

 

The central bank also held its other two key rates -- the marginal lending rate and the deposit rate -- unchanged at 0.75 percent and zero percent respectively.

 

There had been speculation that the central bank could ease monetary conditions in the 18 countries that share the euro after area-wide inflation came in lower than expected last month.

 

The ECB surprised the markets with a quarter-point rate cut in November.

 

ECB President Mario Draghi was scheduled to explain the reasoning behind the latest decision at a news conference.

 

(Agence France-Presse, 6 Thursday February 2014 The Roman)