ECB holds key rates steady amid concerns over China

The ECB has launched a raft of policy measures to get credit flowing again, including a one trillion-euro ($1.1 trillion) worth public sector bond buying programme (AFP Photo/Daniel Roland) (AFP/File)

Frankfurt (AFP) - The European Central Bank held its key interest rates steady on Thursday, a spokesman said, amid investor concern over the economic fallout from the slowdown in China.

The ECB's governing council voted, as expected, to keep the benchmark "refi" refinancing rate at its current all-time low of 0.05 percent, the spokesman said.

ECB president Mario Draghi was scheduled to explain the reasoning behind the decision at his traditional post-meeting press conference.

Central bank watchers expected him to leave the door open to further monetary easing given signs that eurozone inflation is still much lower than the ECB would like.