ECB Stands Pat on Interest Rate Amid Debt Crisis Fears

The European Central Bank (ECB) has decided to keep its benchmark interest rate unchanged at 1 percent. This decision comes as markets await word on whether the bank will continue with its special measures to flood banks with cash and step up purchases of government bonds.

The ECB's move is aimed at helping contain Europe's debt crisis, which has been a major concern for the global economy. By keeping interest rates low, the ECB hopes to stimulate economic growth and prevent a further deterioration in the financial situation.