ECB set to hold interest rates steady

FRANKFURT, Germany (AP) -- The European Central Bank is set to hold interest rates steady this week but may set the stage for a series of increases starting in August in the face of faster economic expansion and higher oil prices.

The meeting Thursday comes amid improving economic indicators in Europe. Earlier this week, a survey of purchasing managers in the 12 countries that use the euro saw manufacturing expectations rise to the highest level since August 2000.