The European Central Bank (ECB) is not making any changes to its main interest rate this month.

As expected the ECB is maintaining the key rate at 0.25%.

 Interest rates on the marginal lending facility and deposit facility will also remain unchanged.

It will be welcomed by those on tracker mortgages, and keeps rates at their lowest ever point.

The decision was made by the Governing Council of the Bank at its monthly meeting in Frankfurt.

Last month, the ECB President Mario Draghi said underlying price pressures were expected to remain subdued over the medium-term, and that inflation expectations "continue to be firmly anchored in line with our aim of maintaining inflation rates below, but close to, 2%".

The ECB also said that all monitors suggest we may experience a prolonged period of low inflation, to be followed by a gradual upward movement towards inflation rates below, but close to, 2% later on.