ECB holds its interest rate at 0.75%

© Scanpix/RS

The European Central Bank remained its key interest rate unchanged at a record low on Thursday, when refrained its initial decision to cut the rate, as the Eurozone economy is showing signs of recovery and as inflation is still above the ECB's target. Mario Draghi's decision had an impact on the 17-nation currency, when it appreciated to $1.3115 on Thursday from $1.3096.

"This is not a surprise given some of the recent comments from the board, which did seem to play down the recent focus on interest rates," Nomura economist Nick Matthews said of Thursday's rate decision.