ECB keeps policy interest rates unchanged; points to slowing inflation

The European Central Bank (ECB) on Thursday decided to leave its policy interest rates untouched, following its assessment of a declining trend in inflation rate. ECB said despite the energy-related upward movement, the underlying base rate of inflation continues to be below the 2 per cent target. ECB said the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 4.50 per cent, 4.75 per cent, and 4.00 per cent, respectively.