ECB leaves rates unchanged at 3.25%

The European Central Bank (ECB) has left European interest rates at 3.25 per cent for the fifth month in a row as expected.

The European Central Bank (ECB) has left European interest rates at 3.25 per cent for the fifth month in a row as expected.

The ECB is thought to be awaiting more evidence of a sustained economic recovery before it begins to reverse the four interest rate cuts it made last year.

Earlier on Thursday, the Bank of England decided to leave its key interest rate untouched at 4 per cent, having last lowered it in November.