Mario Draghi, President of the European Central Bank, reported in a statement that the Governing Council of this European institution decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.75%, 1.50% and 0.00% respectively.

The President of the European Central Bank, Mario Draghi, reported the latest decision taken by the Governing Council of the ECB. At the meeting held on 4 of April, the Governing Council decided to keep the key ECB interest rates unchanged. Mr Dragui also announced that in the coming weeks, the Governing Council of the ECB will monitor very closely all incoming information on economic and monetary developments and assess any impact on the outlook for price stability. In February 2013, the ECB published that this institution earned a surplus of €2,164 million in 2012, compared with a surplus of €1,894 million in 2011.

The President of the ECB also underlined that it is essential for governments to intensify the implementation of structural reforms at national level and to strengthen euro area governance, including the implementation of the banking union. According to Mr Dragui, member states should also build on progress made in fiscal consolidation and proceed with financial sector restructuring. Moreover, the President stressed that euro area countries should build on their efforts to reduce government budget deficits and continue to implement structural reforms, thereby mutually reinforcing fiscal sustainability and economic growth. Fiscal policy strategies need to be complemented by growth-enhancing structural reforms.

With regard to the economic outlook for the euro area, Mr Dragui highlighted that it remains subject to downside risks. The risks include the possibility of even weaker than expected domestic demand and slow or insufficient implementation of structural reforms in the euro area. These factors have the potential to dampen the improvement in confidence and thereby delay the recovery.