The European Central Bank left interest rates and asset purchases unchanged on Thursday.
The ECB left its main refinancing rate at 0% and monthly asset purchases at €60bn.
Mario Draghi, president of the ECB said that he expected to see interest rates at present levels well past the end of its quantitative easing (QE) programme.
Inflation pick up
Speaking after the ECB's monthly meeting in Frankfurt, Draghi confirmed that QE would run until the central bank saw sustained inflation pick up.
"While the ongoing economic expansion provides confidence that inflation will gradually head to levels in line with our inflation aim, it has yet to translate into stronger inflation dynamics.
"Headline inflation is dampened by the weakness in energy prices. Moreover, measures of underlying inflation remain overall at subdued levels. Therefore, a very substantial degree of monetary accommodation is still needed for underlying inflation pressures to gradually build up and support headline inflation developments in the medium term."