Europe

European Central Bank keeps stimulus on track to aid economy

  • Cars and trucks drive along the highway A5 near Frankfurt, background, in Friedrichsdorf, Germany, Tuesday, March 7, 2017. The busy highway is one of the main arterial roads into Frankfurt. (AP Photo/Michael Probst)

    Cars and trucks drive along the highway A5 near Frankfurt, background, in Friedrichsdorf, Germany, Tuesday, March 7, 2017. The busy highway is one of the main arterial roads into Frankfurt. (AP Photo/Michael Probst)  (The Associated Press)

  • President of the European Central Bank Mario Draghi speaks during a news conference in Frankfurt, Germany, Thursday, March 9, 2017, following a meeting of the ECB governing council. (AP Photo/Michael Probst)

    President of the European Central Bank Mario Draghi speaks during a news conference in Frankfurt, Germany, Thursday, March 9, 2017, following a meeting of the ECB governing council. (AP Photo/Michael Probst)  (The Associated Press)

  • President of the European Central Bank Mario Draghi poses for photographers prior to a news conference in Frankfurt, Germany, Thursday, March 9, 2017, following a meeting of the ECB governing council. (AP Photo/Michael Probst)

    President of the European Central Bank Mario Draghi poses for photographers prior to a news conference in Frankfurt, Germany, Thursday, March 9, 2017, following a meeting of the ECB governing council. (AP Photo/Michael Probst)  (The Associated Press)

The European Central Bank has decided to keep its stimulus programs unchanged.

And that leaves President Mario Draghi with the job of explaining at his post-decision news conference why he is pressing on with the stimulus when the economy is growing and inflation has reached the bank's goal of just under 2 percent.

Draghi argues that inflation's recent rise to 2.0 percent in February comes from higher oil prices, and not from fundamental pressures in the economy such as higher wages for workers.

Core inflation, excluding volatile fuel and oil, remains stuck at 0.9 percent.

The bank decided to keep its bond purchases from banks unchanged at 80 billion euros this month and 60 billion euros per month through the end of the year.