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ECB keeps rates unchanged today

Thursday, May 08 13:02:20

The European Central Bank left its main interest rate unchanged at a record low of 0.25 percent today, holding off fresh policy action while it waits to see whether a tick up in inflation last month gains traction.

The decision to leave rates unchanged was expected, as ECB policymakers await updated economic forecasts from the bank's staff in June to assess whether to act to counter low inflation that risks becoming stuck in a "danger zone" below 1 percent.

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.