April 3, 2014 / 11:51 AM / 4 years ago

ECB holds rates despite inflation close to zero

FRANKFURT, April 3 (Reuters) - The European Central Bank left its main interest rate unchanged at a record low of 0.25 percent on Thursday despite a sharp slowdown in inflation in the euro zone.

The decision to leave rates unchanged was expected, though a very small minority of economists polled by Reuters had expected a cut.

The ECB also left unchanged the rate it pays on bank overnight deposits at 0.0 percent, and held its marginal lending facility - or emergency borrowing rate - at 0.75 percent.

Markets now turn their attention to ECB President Mario Draghi’s 1230 GMT news conference, at which he is expected to give a more detailed explanation for the ECB’s decision. (Reporting by Eva Taylor and David Milliken; editing by Jeremy Gaunt)

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