(Adds details, context) BEIJING, March 11 (Reuters) - China's central bank governor, Zhou Xiaochuan, was elected as a deputy chairman of parliament's top advisory body on Monday, the government said, clearing the way for him to stay on as head of the People's Bank of China for the time being. Zhou's election to the Chinese People's Political Consultative Conference (CPPCC) gives him "national-level leader" rank that exempts him from compulsory retirement at 65 for officials in cabinet minister-ranked jobs.

* ECB holds main refinancing rate at 0.75 percent * Draghi says markets have calmed after Italy vote * Rate cut discussed, but consensus was against By Eva Kuehnen and Sakari Suoninen FRANKFURT, March 7 (Reuters) - Markets have settled after Italy's fractured election result and any threat of contagion to other euro members has been muted, European Central Bank President Mario Draghi said on Thursday, suggesting the bank is in no mood to act.

The head of the European Central Bank on Thursday played down the impact of the Italian election result last week, noting that uncertainty had not spread to other countries or the markets. "If we look at contagion, you've seen that the contagion to other countries has been muted this time, contrary to what might have happened about a year and a half ago," Mario Draghi told a regular monthly ECB news conference. He added: "As you see, markets, after some excitement immediately after the elections have now reverted back more or less to what they were before."

The head of the European Central Bank on Thursday played down the impact of the Italian election result last week, noting that uncertainty had not spread to other countries or the markets. "If we look at contagion, you've seen that the contagion to other countries has been muted this time, contrary to what might have happened about a year and a half ago," Mario Draghi told a regular monthly ECB news conference. ric/spm/wai