ECB keeps interest rates unchanged

The Governing Council of the European Central Bank (ECB) decided at Thursday's meeting held here that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.05 percent, 0.30 percent and -0.20 percent respectively.

President of ECB Mario Draghi said the decision was based on the Governing Council's regular economic and monetary analyses, and in line with the forward guidance.

"As regards non-standard monetary policy measures, the asset purchases are proceeding smoothly and continue to have a favorable impact on the cost and availability of credit for firms and households," said Draghi at a press conference held after the meeting.

He said that the degree of monetary policy accommodation will need to be "re-examined" at the December monetary policy meeting as euro area domestic demand remains resilient, concerns over growth prospects in emerging markets and possible repercussions for the economy from developments in financial and commodity markets continue to signal downside risks to the outlook for growth and inflation. Endit