ECB Keeps Rates on Hold

Article Excerpt

BY BRIAN BLACKSTONE
FRANKFURT—European Central Bank President Mario Draghi sought to dispel doubts about the strength of the central bank’s recent guidance on interest rates by reaffirming its commitment to keep borrowing costs low for as long Europe struggles to recover.
Mr. Draghi tempered recent surveys signaling the euro zone’s economy is on the mend, saying any recovery will be weak. Unless incoming data significantly improve, interest rates will likely remain at current record-low levels, or go even lower, for “an extended period,” Mr. Draghi told a news conference after the ECB’s monthly meeting.
The ECB kept its key interest rate unchanged at …
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