ECB holds rates and offers no new stimulus


The governing council of the European Central Bank (ECB) kept its key policy interest rates on hold on June 6 and unveiled no substantive new policy initiatives geared to bolster market stability in the eurozone.

"While inflation rates are likely to stay above 2% for the remainder of 2012, over the policy-relevant horizon we expect price developments to remain in line with price stability," Mario Draghi, president of the ECB, told a press conference on June 6.

Draghi said inflation expectations

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