ECB leaves key interest rate unchanged

The European Central Bank (ECB) today announced that it is leaving its key interest rate unchanged at 1%.

"At today’s meeting the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 1.00%, 1.75% and 0.25% respectively," the Central Bank said in a statement.

The decision is widely in line with economists's expectations, and follows two successive rate cuts of 0.25%.

However a further rate cut is expected in the months ahead.