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ECB discussed possible rate cut: Draghi

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(Globalpost/GlobalPost)

The European Central Bank's policy-setting governing council discussed a possible cut in interest rates at its regular monthly meeting Thursday, but the consensus was to hold them steady, ECB chief Mario Draghi said.

"Yes, we discussed the possibility of doing it. But the prevailing consensus was to leave rates unchanged," Draghi told a news conference after the central bank held its key refinancing rate at its current historical low of 0.75 percent.

With inflation in the 17-country eurozone currently expected to remain in line with the ECB's goal of close to, but just under, 2.0 percent, "this will allow our monetary policy stance to remain accommodative," Draghi said.

And the central bank's policy stance "will remain accommodative as long as needed," he insisted.

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http://www.globalpost.com/dispatch/news/afp/130307/ecb-discussed-possible-rate-cut-draghi