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ECB hold rates despite low inflation

Thursday, April 03 12:49:53

The European Central Bank left its main interest rate unchanged at a record low of 0.25 percent today despite a sharp slowdown in inflation in the euro zone.

The decision to leave rates unchanged was expected, though a very small minority of economists polled by Reuters had expected a cut.

The ECB also left unchanged the rate it pays on bank overnight deposits at 0.0 percent, and held its marginal lending facility - or emergency borrowing rate - at 0.75 percent.

Markets now turn their attention to ECB President Mario Draghi's 1230 GMT news conference, at which he is expected to give a more detailed explanation for the ECB's decision.