European Central Bank holds firm despite weaker growth

Published 01-24-2019

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FRANKFURT, Germany (AP) - The European Central Bank has kept its key interest rates and future policy views unchanged despite the worries about Brexit and trade wars stalking the eurozone and global economy.

The bank's 25-member governing council didn't touch the wording of its brief policy statement promising rates will stay at record lows at least through the summer. The statement also says the bank won't withdraw any of its stimulus from previous bond purchases until long after rates start going up.

Bank president Mario Draghi said Jan. 15 that despite a recent weakening, the eurozone economy is "not heading towards a recession" and growth could last longer than expected. Investors are waiting to hear his updated view at a post-decision news conference.

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