ECB keeps policy unchanged as expected despite record inflation

The European Central Bank kept policy unchanged as expected on Thursday, curbing stimulus over the coming months but maintaining plenty of support for the economy even after inflation unexpectedly hit a fresh record high.

After the ECB extended support measures only in December, policy change was not expected to be on the agenda. But stubbornly high inflation - which rose to 5.1% last month in the 19-country euro zone - is complicating life for the bank and ECB President Christine Lagarde will be under pressure to address the issue in her 1330 GMT news conference.

Making only the smallest change to its