ECB keeps rates unchanged, ready to do more if needed

Frankfurt

EUROPEAN Central Bank (ECB) members are all prepared to take more policy action if necessary and the bank's staff will prepare the groundwork in case, president Mario Draghi said on Thursday.

The ECB kept interest rates at a record-low 0.05 per cent at its monthly meeting, waiting to see how stimulus measures laid out in recent months unfold. The deposit rate remained at minus 0.2 per cent and the marginal lending rate at 0.3 per cent.

Mr Draghi said risks to the eurozone's recovery remained skewed to the downside and told a news conference: "The Governing Council is unanimous in its comm…