The European central bank released its monthly report on September 15, explaining the bank's actions and moves during the past month, where the bank kept key interest rates unchanged at 1.50%, after the previous raise back in July in order to strengthen confidence, growth prospects and job creation

The monetary expansion is continuing to gradually recover, and the liquidity remains adequate in the zone.

The non-standard measures are temporary in nature and the provision of liquidity and the allotment modes for refinancing operations will be adjusted when appropriate.

As Trichet said risks to the economic outlook has been changed, while downside risks are weighing more downside pressures on growth and inflation. The ECB forecasts the annual GDP growth to round between 1.4% and 1.8% in 2011 and between 0.4% and 2.2% in 2012.

The bank has also foreseen annual HICP inflation to round in a range between 2.5% and 2.7% in 2011 and between 1.2% and 2.2% in 2012.

Inflation expectations must remain firmly anchored in line with the goal of maintaining inflation rates below, but close to, 2% over the medium term.