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ECB President reiterates low interest rates

  • European Central Bank (ECB) President Mario Draghi maintained on Monday that ECB interest rates will remain at record lows for an extended period.

    Draghi added that higher rates were not warranted at the moment, reiterating his statement from last week.

    His comments come after two senior ECB policymakers said on Saturday that the bank's decision to issue “forward guidance” was in line with its mandate.

    The ECB left its main interest rate at a record low of 0.5 percent last week but Draghi added that the Governing Council had discussed a cut.

    Tagged as: ECB rate, european centralbank, european bank rate, ecb bank rate