May 2, 2013 / 12:54 PM / 7 years ago

ECB cut rates because of weak economy, tame inflation: Draghi

European Central Bank President Mario Draghi attends the G20 finance ministers meeting during the Spring Meeting of the International Monetary Fund and World Bank in Washington, April 19, 2013. REUTERS/Yuri Gripas

BRATISLAVA (Reuters) - Extended weak economic activity and tame inflation persuaded the European Central Bank to cut interest rates, ECB President Mario Draghi said on Thursday.

In the past month, confidence indicators have slumped, triggering fears of a delayed recovery in the euro zone.

“Weak economic sentiment has extended into the spring of this year,” Draghi told a news conference.

“Inflation expectations for the euro area continue to be firmly anchored.... our monetary policy stance will remain accommodative,” he said.

Reporting by Michael Shields Editing by Jeremy Gaunt

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