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| Version 0 | Version 1 |
|---|---|
| ECB leaves interest rate unchanged | ECB leaves interest rate unchanged |
| (35 minutes later) | |
| The European Central Bank (ECB) has left its key interest rate unchanged at 0.05%, holding it at a record low. | The European Central Bank (ECB) has left its key interest rate unchanged at 0.05%, holding it at a record low. |
| The central bank is later expected to underline its readiness to step up its €1.1 trillion stimulus programme. | The central bank is later expected to underline its readiness to step up its €1.1 trillion stimulus programme. |
| The decision to leave the cost of borrowing unchanged was widely expected after the ECB cut rates to rock-bottom levels over a year ago. | The decision to leave the cost of borrowing unchanged was widely expected after the ECB cut rates to rock-bottom levels over a year ago. |
| It kept the rate on bank overnight deposits at -0.2%, which means banks pay to keep funds at the central bank. | It kept the rate on bank overnight deposits at -0.2%, which means banks pay to keep funds at the central bank. |
| The ECB also held its marginal lending facility - or emergency overnight borrowing rate for banks - at 0.3%. | The ECB also held its marginal lending facility - or emergency overnight borrowing rate for banks - at 0.3%. |
| ECB President Mario Draghi is due to explain the decision hold rates steady at a news conference. | |
| Mr Draghi is expected to leave the door open for concrete policy action on quantitative easing (QE) later this year. | |
| Markets have begun to speculate that the ECB could increase its QE programme, given that consumer prices declined by 0.1% in the euro area in September. | |
| In March, the ECB embarked on a scheme of sovereign bond purchases at €60bn per month designed to bring eurozone inflation back up. |