ECB interest rates remain unchanged

ECB head Mario Draghi said that there are “tenatative” signs of stabilisation in the eurozone.

THE EUROPEAN CENTRAL Bank has announced that it is to keep the key interest rate unchanged at 1 per cent.

The figure, which remains a record low, had been widely expected to stay the same.

This afternoon ECB head Mario Draghi said that there had been “tentative” signs of stabilisation in economic activity since the turn of the year.

However he added that the economic outlook remains subject to “high uncertainty and downside risks”.

Draghi said that inflation needs to be anchored below 2 per cent over the medium term in order to maintain price stability for the euro area.

The ECB said that a combination of structural reforms and fiscal discipline is “essential” for boosting confidence and creating a strong environment for sustainable growth in the eurozone.

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