ECB holds interest rates unchanged

BRUSSELS, May 8 (Reuters): The European Central Bank (ECB) left interest rates unchanged on Thursday, waiting for updated forecasts from its staff in June before deciding whether to take fresh action to counter low inflation that ticked up last month.
The decision was widely expected and markets' attention will now shift to ECB President Mario Draghi's 1230 GMT news conference, when investors will be listening for any indication the bank could act next month.
Last month, Draghi said the Governing Council was "unanimous in its commitment to using also unconventional instruments" to cope with risks of a "too prolonged period of low inflation."
Data have since shown eurozone inflation ticked up to 0.7 per cent in April from March's 0.5 per cent, relieving pressure on the ECB to act this month. But a downward revision in the staff inflation forecasts in June could trigger action next month.