ECB holds rates as it focuses on fixing transmission

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Reuters
Last Updated : Mar 07 2013 | 6:40 PM IST

FRANKFURT (Reuters) - The European Central Bank held its main interest rate at a record low of 0.75 percent on Thursday, maintaining its policy as it seeks for ways to have its low interest rates being reflected in borrowing costs across the currency union.

ECB President Mario Draghi has stressed that the central bank's top priority is to enhance the transmission of its accommodative monetary policy stance across the euro zone.

The ECB left its main interest rate on hold for the eighth month running. It also left the interest rate on its deposit facility at 0.0 percent and held its marginal lending facility - or emergency borrowing rate - at 1.50 percent.

The markets now turn their attention to the Draghi news conference, scheduled to begin at 1330 GMT, where he will present the central bank's new economic forecasts for growth and inflation.

(Reporting by Sakari Suoninen)

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First Published: Mar 07 2013 | 6:20 PM IST

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