Economics
ECB Keeps Policy Unchanged to Battle Economic Slowdown
- Weaker growth, higher risks put timing of rate hike in doubt
- Mario Draghi holds media briefing at 2:30 p.m. in Frankfurt
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The European Central Bank pledged to keep interest rates at record lows at least through the summer after policy makers met amid rising concern about the region’s growth outlook.
The decision on Thursday came just hours after a report signaled the euro area’s economic slowdown is set to drag on, with the region beset by political strife and global risks such as mounting trade protectionism. Economists and investors have cut their forecasts, questioning the relative optimism President Mario Draghi expressed last month when he announced the end of bond purchases.