The euro fell 0.4 percent to $1.11, its lowest level in 17 months, after the announcement. European market interest rates also fell, but from unusually high levels.
Hours before the announcement, ECB President Christine Lagarde announced that she would resign early, in February next year.
Higher energy prices are expected to push up inflation, according to the ECB's press release. However, price increases are being dampened by higher market interest rates, which are tightening credit in eurozone countries without the ECB raising its key interest rates.
Interest rate market participants expect Lagarde to have time for at least one more interest rate hike before she steps down: a 0.25 percentage-point increase in December.
