ECB keeps interest rates at record low
The European Central Bank (ECB) has left interest rates at their current record low of 0.15 per cent.
The move was widely in line with expectations, as the ECB has been keen to leave time to analyse the impact of the measures announced in June.
Eurozone inflation slipped to 0.4 per cent in July, its lowest level since October 2009 and below the ECB's target of below but close to two per cent.
ECB president Mario Draghi will take questions from the press at 1.30pm. It is expected that he will be challenged on the weakness of the recovery since rates were cut in June, as well as the effect of Russian import bans on the Eurozone.
Earlier this week, Francois Hollande warned that there could be a "real deflationary risk" as inflation has stood at below one per cent for 10 weeks.