(MENAFN- Qatar News Agency) The European Central Bank decided not to take any action at its meeting today because economic and monetary conditions had not changed enough to warrant it, ECB President Mario Draghi said.
The ECB left its main interest rate unchanged at a record low of 0.25% today, despite fears inflation could get stuck in a "danger zone" below 1%. The ECB also left unchanged the deposit rate it pays on bank deposits at 0%, and held its marginal lending facility- or emergency borrowing rate - at 0.75%.
ECB president Mario Draghi said the bank was pencilling in economic growth of 1.2% in 2014, 1.5% in 2015 and 1.8% in 2016, while inflation was expected to average 1% in 2014, 1.3% in 2015 and 1.5% in 2016.
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