ECB Keeps Rates on Hold as Officials Discuss New Measures

The European Central Bank kept interest rates unchanged even after inflation in the euro area weakened to the slowest pace in more than four years.

The 24-member Governing Council left the main refinancing rate at a record low of 0.25 percent after policy makers met in Frankfurt today. This decision was forecast by 54 of 57 economists in a Bloomberg News survey, with three expecting a cut. The deposit rate was left unchanged at zero and the marginal lending rate at 0.75 percent.