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The European Central Bank Thursday held its key interest rates steady, as expected, as investors waited for ECB chief Mario Draghi to reveal more details of the bank's much-anticipated bond purchase programme. At the ECB's regular policy meeting, held in Nicosia, Cyprus this time instead of the usual venue of Frankfurt, the governing council voted to hold the benchmark "refi" refinancing rate at its current record low of 0.05 percent. Under the programme, the ECB plans to buy 60 billion euros ($68 billion) of private and public bonds each month for at least 18 months in a bid to ward off deflation in the euro area. The ECB will also publish its latest updated growth and inflation forecasts for the 19 countries that share the euro.
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The more we love our friends, the less we flatter them; it is by excusing nothing that pure love shows itself.
Moliere (1622-1673) French Dramatist and Actor