The European Central Bank left interest rates on hold today (Thursday) despite forecasting low inflation for years to come.
The ECB left its main interest rate at 0.25 percent – which was expected and it also held the deposit rate it pays banks for holding their money overnight at 0%.
Further cuts were not ruled out …
ECB president, Mario Draghi , said ” We are monitoring developments on money markets closely and are ready to consider all instruments available to us. Overall, we remain firmly determined to maintain the high degree of monetary accommodation and to take further decisive action if required.”