The European Central Bank has kept interest rates unchanged after its monthly policy meeting despite signs that the 18-country eurozone economy is losing momentum.
Interest now turns to the press conference of ECB President Mario Draghi and anything he says about the economic outlook. Last month, the ECB unveiled a raft of measures designed to shore up the recovery and prevent prices from falling. Among the policies announced was a reduction in the ECB's main interest rate to 0.15 percent.
Figures released Thursday suggest the eurozone has started the summer on a fairly flat footing. Retail sales, according to Eurostat, were flat in May while the June purchasing managers' index — a gauge of business activity — from financial information company Markit edged back to a 6-month low.