The ECB has pledged to keep interest rates at their current historic low in a bid to revive the eurozone's weakening economy. The move comes as fears about Brexit and global tensions threaten growth across the bloc.
Policymakers at the European Central Bank on Thursday announced a new round of cheap loans to banks and said record low interest rates would remain unchanged "at least through the end of 2019."
Previously, the bank had indicated that the earliest rate hike would come in the fall.
The ECB's move follows similar steps by the US Federal Reserve, which has also indicated it would halt interest rates in response to concerns about the state of the global economy. China too has acted to boost support for businesses in the face of a slowdown there.
The Frankfurt-based ECB on Thursday said it would keep its main refinancing rate at zero, where it's been for the past three years. The marginal lending rate will be held at 0.25 percent, and the rate on deposits at -0.4 percent.
It is also offering a fresh series of ultra-cheap loans to banks to keep credit flowing. The ECB has loaned banks more than €700 billion ($790 billion) in previous rounds of the so-called Targeted Long-Term Refinancing Operation (TLTRO).