ECB Adjusts interest rates and hints for more stimulus

Today the European Central Bank kept the deposit interest rate unchanged at a record low - 0.5% and the key refinancing rate remained at zero, but announced further monetary support at its next meeting on December 10.

Today, ECB President Christine Lagarde said at a press conference following the ECB's monetary policy decision, "We all agreed that it is necessary to take action and thus reset our tools at the next board meeting."

Lagarde stressed that there should be no delay in the European Recovery Fund of 750 billion euros, explaining that the monetary policy must be completed by massive government support, adding that she would not be surprised if individual governments provide more financial support under the deteriorating conditions.