ECB: Next move will stimulate economy

The ECB left key interest rates unchanged but said that if it is going to engage in another long-term refinancing operation (LTRO) it will be designed to stimulate the economy, not just banks.

The ECB left its key interest rate at the historic low of 0.25%. ECB president Mario Draghi said the decision to cut rates last month had been proven correct.

Mr Draghi said any LTRO scheme would be designed in a way that would prohibit the banks from using the money to buy government bonds.