ECB Keeps Interest Rates on Hold as Draghi Gets Reprieve
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The European Central Bank kept interest rates unchanged as stronger inflation and economic output reduced the need for officials to take action.
The Governing Council left the main refinancing rate at a record low of 0.25 percent at its meeting in Frankfurt today. The decision was forecast by 40 out of 54 economists in a Bloomberg News survey. The rest forecast a cut. The deposit rate was kept at zero and the marginal lending rate at 0.75 percent.