European Central Bank holds interest rates steady

CommSec’s Tom Piotrowski says European markets are weak after the central bank held interest rates steady. The European Central Bank on Thursday (local time) held interest rates steady for the fifth straight meeting at four per cent. "European markets are weaker," Mr Piotrowski told Sky News Australia. "The European Central Bank left rates on hold and said that they would be data-dependent with their outlook. "But the markets are expecting a rate cut in June still where the Europeans' fears are concerned." Presented by CommSec.