ECB leaves interest rates unchanged (by William L. Watts)

FRANKFURT (MarketWatch) -- The European Central Bank on Thursday left its key lending rate unchanged at 0.75%, as was widely expected. ECB President Mario Draghi will hold his monthly news conference at 8:30 a.m. Eastern.

ECB's Draghi: OMT (money printing) plan helping ease tensions (by William L. Watts)

FRANKFURT (MarketWatch) -- European Central Bank President Mario Draghi said Thursday that the central bank's bond-buying plan, known as outright monetary transactions, or OMTs, has helped ease tensions in euro-zone financial markets. Draghi, speaking at his monthly news conference, repeated that the euro is "irreversible," but said it was up to governments to stick to fiscal targets and plans for economic reforms. Draghi last month outlined a plan for aggressive bond buying in the secondary market that could be implemented once a country applies for help to the euro-zone rescue funds and agrees to abide by strict policy conditions. Draghi said inflation in the euro zone remains higher than expected but should fall back below the ECB's 2% target in 2013. The economic recovery in the region will proceed "only gradually," he said.