ECB holds rates, for now

Nov 08, 2012, 12:03 PM EST
European Central Bank (ECB) President Mario Draghi speaks during a news conference in Frankfurt, November 8, 2012. The European Central Bank held its main interest rate at 0.75 percent on Thursday, deferring any cut in borrowing costs while it assesses the extent of the euro zone's economic downturn and waits for a cue to use its new bond-purchase programme.
REUTERS/Lisi Niesner

The European Central Bank (ECB) left its main euro zone interest rate unchanged at a record low 0.75%, as widely expected. ECB President Mario Draghi said the euro zone shows little sign of economic recovery before the end of the year despite easing financial market conditions, a comment interpreted as leaving open the possibility of an interest rate cut in the months ahead, though Draghi stopped short of signalling it. He also said the ECB stands readly to activate its bond-purchasing program.