Ecb Chief Mario Draghi

US stock indexes ended a volatile session little changed on Thursday after the European Central Bank reduced interest rates but ECB chief Mario Draghi confounded investors who expected multiple rate cuts by saying more were unlikely.

Gold rebounded by 1 per cent on Thursday as the euro bounced back from a six-week low against the dollar after European Central Bank (ECB) chief Mario Draghi indicated that further interest rate cuts in the Eurozone are unlikely.

The chief monetary authority for the 19 countries that use the euro currency left its key interest rates untouched after its meeting on Thursday, and did not ramp up its existing 1.5 trillion euro ($1.64 trillion) monetary stimulus program.

The European Central Bank cut a key interest rate on Thursday and announced an extension of its monthly asset purchases but the euro leapt higher as financial markets signalled they had been expecting yet more stimulus.

European Central Bank head Mario Draghi said the chief monetary authority for the eurozone "will not hesitate" to expand its stimulus program at its next meeting if needed to support the economy.

Analysts have warned that upping the pace of purchases may create a shortage of bonds down the line and that extending the scheme may require the ECB to change some of the rules of engagement to avoid hitting technical limits.

The euro's plunge helped lift the dollar index to a one-month high. It was last at 96.543, up about 0.2 percent on the day and more than 2 percent for the week, after it rose as high as 96.579 in early Asian trade.

Commission spokesman Margaritis Schinas told a press conference that Jean-Claude Juncker, Christine Lagarde, Mario Draghi and Jeroen Dijsselbloem would discuss the plan in a conference call at 1100 GMT.

The spark for Thursday's buying was ECB chief Mario Draghi's announcement of a 60 billion euro-a-month ($69 billion) bond-buying program through at least September 2016 aimed at sparking more investment and growth in the eurozone.

European Central Bank President Mario Draghi said on Thursday there was a large majority on the bank's Governing Council in favour of launching a broad quantitative easing plan.

At just 0.3 per cent in November, eurozone inflation is alarmingly low and could even fall further as a result of falling oil prices.

Yields on government bonds issued by the euro zone's heavily indebted southern member states - which the bank would be expected to buy in any such campaign of quantitative easing - fell after ECB President Mario Draghi said the risk of it falling short of its mandate on inflation targeting had risen compared to six months ago.

European Central Bank chief Mario Draghi said on Wednesday that euro zone monetary policy would remain accommodative for a long period and that the goal was to push ultra-low inflation back up closer to the two percent level.

The euro slipped to a one-year low against the dollar as comments from ECB chief Mario Draghi late last week that the central bank was prepared to respond with all its "available" tools resonated in the market.

The European Central Bank launched a raft of measures on Thursday to fight low inflation and boost the euro zone economy, cutting rates, imposing negative interest rates on its overnight depositors and offering banks new long-term funds.

US stock indexes ended a volatile session little changed on Thursday after the European Central Bank reduced interest rates but ECB chief Mario Draghi confounded investors who expected multiple rate cuts by saying more were unlikely.

Gold rebounded by 1 per cent on Thursday as the euro bounced back from a six-week low against the dollar after European Central Bank (ECB) chief Mario Draghi indicated that further interest rate cuts in the Eurozone are unlikely.

The chief monetary authority for the 19 countries that use the euro currency left its key interest rates untouched after its meeting on Thursday, and did not ramp up its existing 1.5 trillion euro ($1.64 trillion) monetary stimulus program.

The European Central Bank cut a key interest rate on Thursday and announced an extension of its monthly asset purchases but the euro leapt higher as financial markets signalled they had been expecting yet more stimulus.

European Central Bank head Mario Draghi said the chief monetary authority for the eurozone "will not hesitate" to expand its stimulus program at its next meeting if needed to support the economy.

Analysts have warned that upping the pace of purchases may create a shortage of bonds down the line and that extending the scheme may require the ECB to change some of the rules of engagement to avoid hitting technical limits.

The euro's plunge helped lift the dollar index to a one-month high. It was last at 96.543, up about 0.2 percent on the day and more than 2 percent for the week, after it rose as high as 96.579 in early Asian trade.

Commission spokesman Margaritis Schinas told a press conference that Jean-Claude Juncker, Christine Lagarde, Mario Draghi and Jeroen Dijsselbloem would discuss the plan in a conference call at 1100 GMT.

The spark for Thursday's buying was ECB chief Mario Draghi's announcement of a 60 billion euro-a-month ($69 billion) bond-buying program through at least September 2016 aimed at sparking more investment and growth in the eurozone.

European Central Bank President Mario Draghi said on Thursday there was a large majority on the bank's Governing Council in favour of launching a broad quantitative easing plan.

At just 0.3 per cent in November, eurozone inflation is alarmingly low and could even fall further as a result of falling oil prices.

Yields on government bonds issued by the euro zone's heavily indebted southern member states - which the bank would be expected to buy in any such campaign of quantitative easing - fell after ECB President Mario Draghi said the risk of it falling short of its mandate on inflation targeting had risen compared to six months ago.

European Central Bank chief Mario Draghi said on Wednesday that euro zone monetary policy would remain accommodative for a long period and that the goal was to push ultra-low inflation back up closer to the two percent level.

The euro slipped to a one-year low against the dollar as comments from ECB chief Mario Draghi late last week that the central bank was prepared to respond with all its "available" tools resonated in the market.

The European Central Bank launched a raft of measures on Thursday to fight low inflation and boost the euro zone economy, cutting rates, imposing negative interest rates on its overnight depositors and offering banks new long-term funds.