FRANKFURT, Germany (AP) ? European Central Bank head Mario Draghi says the bank's governing council discussed a possible rate cut and is looking a "various tools" beyond lower interest rates in case the euro area's economy needs more of a push.
Draghi said there was "extensive" discussion of interest rate policy at Thursday's 23-member governing council meeting, which ended up leaving the bank's key rate unchanged at 0.75 percent.
He added that the bank was "looking at various instruments, various tools" beyond interest lower rates to promote growth.
The eurozone is stuck in recession though the ECB predicts a gradual recovery later year.
Analysts have speculated the ECB might be looking at ways to encourage more lending to companies. The bank could also extend credits to banks beyond its current three-month limit.
Source: http://news.yahoo.com/draghi-ecb-looking-tools-growth-131233766--finance.html
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