8 Mar 2013

Interest rate kept low by ECB

6:38 am on 8 March 2013

The European Central Bank has kept eurozone interest rates unchanged at 0.75% for the eighth consecutive month.

Rates have remained at the same level since the ECB cut rates from 1% in July last year.

ECB president Mario Draghi said a rate cut was discussed, but the consensus was to leave them as they were.

The BBC reports many analysts do not expect the ECB to alter rates from their current record low until next year at the earliest.

The Bank of England also on Thursday kept its interest rate unchanged at 0.5%.

Latest figures for inflation for the eurozone showed a fall from 2.2% to 2% in January.