Mediaboss Marketing

The Associated Press

FILE - In this May 31, 2012 file picture President of the European Central Bank Mario Draghi reports to the Economic Committee, in capacity as the head of the European Systemic Risk Board, at the European Parliament in Brussels. European Central Bank president Mario Draghi has already taken Europe's monetary authority into uncharted territory. Now, with the debt crisis in Europe threatening further disaster, he may have to push it even farther into the unknown to save the euro. The 17 countries that use the euro are struggling as economies across the region face deepening recessions. Spain and Italy, the two chief trouble spots, are threatened with a financial collapse that could tear the 13-year old currency union apart and rock the global economy. (AP Photo/Yves Logghe,File)

FRANKFURT, Germany (AP) The European Central Bank leaves its benchmark interest rate unchanged at a record-low 0.75 percent.

Markets are now waiting to hear bank President Mario Draghi speak at a news conference, hoping for more signals on whether the bank might buy government bonds in the open market. That could lower borrowing costs that are threatening to push Italy and Spain over the edge.

Draghi last week raised expectations the bank might take stronger action by saying the ECB would do "whatever it takes" to save the euro. But he didn't specify what measures he would take.

Markets are looking to the ECB Thursday, a day after the U.S. Federal Reserve held off taking further steps to support the shaky U.S. recovery. But the Fed strongly hinted it might take action soon.

See the rest here:
ECB rates unchanged; markets await word on bonds