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| ECB rates kept at record low of 0.5% | ECB rates kept at record low of 0.5% |
| (35 minutes later) | |
| The European Central Bank (ECB) has once again kept interest rates at a historic low level of 0.5%. | The European Central Bank (ECB) has once again kept interest rates at a historic low level of 0.5%. |
| And ECB president Mario Draghi has once again said rates would remain at low levels for the foreseeable future. | |
| "The Governing Council confirms that it expects the key ECB rates to remain at present or lower levels for an extended period of time," he said. | |
| The rate decision comes after a slight drop earlier this week in the number of people unemployed in the eurozone. | |
| It was the first fall for some 25 months, although the jobless rate remains at 12.1%. | It was the first fall for some 25 months, although the jobless rate remains at 12.1%. |
| In other positive news this week, eurozone private industry unexpectedly rebounded to growth in July, as a survey showed that factories increased output for the first time in more than a year. | |
| Inflation in the currency bloc remains steady at 1.6%, below the ECB's goal of 2%. | Inflation in the currency bloc remains steady at 1.6%, below the ECB's goal of 2%. |
| His statement last month that rates would stay low was aimed at reassuring markets the ECB is not ready to follow the US Fed towards withdrawing or "tapering" emergency stimulus |