ECB, keeping rates unchanged, stays quiet about future policy

The European Central Bank kept interest rates on hold at historic lows on Thursday and its president said the Bank was committed to pursuing substantial asset purchases aimed at spurring growth and inflation. With the eurozone economy enjoying what Draghi called "a moderate but steady" recovery, he defended the stimulus effort as being more successful than the ECB had hoped, and rejected suggestions that ultra-low rates were counter-productive. "The conclusion was they don't hinder the transmiss