ECB Freezes Benchmark Rate Amid Eurozone Debt Crisis

The European Central Bank (ECB) has decided to keep its benchmark interest rate unchanged at 1 percent. This decision comes as markets await news on whether the bank will maintain its special measures to provide liquidity to banks and increase purchases of government bonds to help mitigate Europe's debt crisis.

With the ECB president, Jean-Claude Trichet, set to hold his monthly post-meeting press conference shortly, all eyes are on him for any hints about the future direction of monetary policy in the eurozone.