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ECB interest rates stay same

THE European Central Bank has warned of a "picture of a weaker economy" for the eurozone as it left interest rates unchanged.

ECB chief Mario Draghi gave a downbeat economic analysis and admitted that recent surveys do not indicate any improvement in the coming months.

"Certainly the outlook is being revised and there's a picture of weaker economy," he said. "Economic activity in the euro area is expected to remain weak, although it continues to be supported by our monetary policy stance, and financial market confidence has visibly improved on the back of our decisions."

His remarks came as the ECB decided to leave interest rates unchanged at 0.75pc.


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