The European Central Bank has kept interest rates unchanged once again.
NEW YORK (CNNMoney)
The European recession has worsened recently, with unemployment hitting another record high in February. But the ECB has not cut rates since July, when it lowered the benchmark rate to 0.75%.
ECB President Mario Draghi said last month that the European economy would remain weak for a while, but that a gradual recovery should begin in the second half of 2013.
Draghi is due to discuss the outlook for Europe in a press conference later Thursday morning.
The ECB's decision to leave rates unchanged follows a similar one by the Bank of England earlier Thursday. But the Bank of Japan launched an aggressive plan to spur economic growth and battle deflation through increased asset purchases. Japan's stock market surged on the news. Futures in the United States were pointing to a higher open as well.
First Published: April 4, 2013: 8:08 AM ET
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