The European Central Bank (ECB) has kept interest rates unchanged at record lows, months after launching its historic stimulus package.<br /><br /> As expected, the main refinancing rate was left at 0.05 percent.<br /><br /> ECB President Mario Draghi said that the bank’s quantitative easing programme, launched earlier this year, was bearing fruit.<br /><br /> “The (eurozone) recovery is on track, exactly according to our projections. However, we had expected stronger figures,” Draghi said.<br /><br /> But he added that a “protracted period of very low interest rates causes a series of problems”, such as financial risks and volatility.<br /><br /> “Is this a good reason to change our monetary policy?,” Draghi continued. The answer is no.”“<br /><br /> The ECB has lifted its 2015 inflation forecast from 0 to 0.3 percent.<br /><br /> That amendment came on the back of data released this week by Eurostat showing a stronger than expected increase in consumer prices in May.
