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ECB Holds Interest Rate at 0.25%
The European Central Bank has left its record-low benchmark interest rate unchanged at 0.25%, where it has been since November 2013.
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The European Central Bank has left its record-low benchmark interest rate unchanged at 0.25%, where it has been since November 2013.
Many analysts expected the ECB to lower rates to encourage economic activity and increase the inflation rate in the eurozone. Inflation in March was 0.5%, well below the central bank's 2% target.
ECB President Mario Draghi has described inflation rates below 1% as being in a "danger zone" where stagnant prices weaken consumer demand and raise the cost of paying down debt.
Draghi tells reporters the central bank could use some form of quantitative easing to stimulate the region's economy. The process, currently being phased out in the U.S., involves using newly issued currency to buy bonds or other financial assets. But Draghi says the ECB is debating the option and is unlikely to decide soon.
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