The European Central Bank kept interest rates on hold at 0.0% on Thursday, despite record inflation.
Inflation in the eurozone hit an all-time high of 5.1% in January, according to new official data which is above ECB’s target rate of 2%.
The decision to maintain its low interest rates was expected, but it will likely face growing pressure to tighten policy over the course of the year.
ECB chief Christine Lagarde was due to release a statement later on Thursday said rate rises this year are “very unlikely.”
