ECB leaves rates unchanged as economy slows

The European Central Bank has left its benchmark interest rate unchanged as it increases the pressure on eurozone leaders to tackle a government debt crisis that threatens the global economy.

FRANKFURT, Germany (AP) — The European Central Bank has left its benchmark interest rate unchanged at a record low of 0.75 percent even though the economy in the euro area is in recession.

(FRANKFURT, Germany) — The European Central Bank has left its benchmark interest rate unchanged as it increases the pressure on eurozone governments to tackle the debt crisis that threatens the global economy. The decision Wednesday by the bank’s 23-member governing council left the refinancing rate at a record low 1 percent.

The European Central Bank left its benchmark interest rate unchanged Thursday, choosing not to react immediately to signs that the euro zone economy is continuing to deteriorate.

The European Central Bank leaves its benchmark interest rate unchanged at 1%, after pumping more than 1tn euros ($1.3tn; £800m) of loans into the European economy this year.

The European Central Bank left its benchmark interest rate unchanged at a record low of 1 percent for the 14th consecutive month on Thursday amid lingering concerns over the health of the continent's banking sector.

South Korea's central bank Thursday froze the key interest rate at a record low 2.0 percent for a 13th month amid uncertainty about the economy at home and abroad.The Bank of Korea left the benchmark seven-day repo rate unchanged after the final rate-setting meeting under governor Lee Seong-Tae, whose four-year term ends this month.The bank, which is independent of politicians, had nevertheless come under pressure to keep the rate unchanged.