European Central Bank keeps interest rates unchanged despite low inflation

The European Central Bank (ECB) on Thursday decided to keep interest rates unchanged at 0.25 percent during a regular rate-setting meeting. Speaking at a news conference following the meeting, the ECB president Mario Draghi said the governing council made the decision after a raft of largely positive data in February. GDP in the euro area rose by 0.3 percent in the last quarter of 2013, increasing for three consecutive quarters, Draghi said in a statement. The Markit eurozone purchasing managers' index (PMI) in the euro area climbed to 53.3 in February, up from 52.9 in January and the earlier flash posting of 52.7. The eurozone services business activity index rose to 52.6. The improvement of the PMI in the