| European Central Bank keeps rates on hold | The European Central Bank kept its main refinancing rate on hold at 0.5 per cent on Thursday, opting against further action while policy makers wait for an improvement in the eurozone's recession-bound economy.
Mario Draghi, ECB president, was due to give more details about the governing council's discussion surrounding the rate decision at a press conference at 1:30pm BST. He will also unveil the ECB staff's latest quarterly economic projections, which will give further clues on the bank's stance.
With inflation falling short of the ECB's close to but below 2 per cent target, record unemployment and optimism about a recovery largely dependent on growth picking up elsewhere, Mr Draghi has sought to emphasise that the bank's policy is already "accommodative" and it stands ready to act again if it judges that it needs to.
http://link.ft.com/r/19JYUU/FD164M/26QPAK/JEK5XX/3CRFXR/82/h?a1=2013&a2=6&a3=6
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