Frankfurt - The European Central Bank held its main interest
rate at 1% on Wednesday, resisting international pressure to provide more
support for the eurozone's ailing economy.
The ECB also said the interest rate on its deposit facility
would remain at 0.25%, and the rate on the marginal lending facility would stay
at 1.75%. The euro was steady versus the dollar after the news.
ECB President Mario Draghi will explain the Governing
Council’s decision at a 12:30 GMT news conference.
Markets are looking for hints whether the ECB may cut
interest rates in the coming months and how worried the 17-country bloc’s
central bank is about recent weak economic data.
An update of the ECB’s staff projections for growth and
inflation will also be eyed for clues on future ECB policy moves.