ECB leaves eurozone rates unchanged at 1%

The European Central Bank (ECB) has left its benchmark interest rate unchanged at 1%.

The bank has not moved rates since November.

But it has pumped more than 1tn euros ($1.3tn; £800m) of loans into the European economy since January to boost the availability of credit.

Since its last meeting in April, Spain and Italy have been confirmed also re-entering recession, raising concerns over the rationale of spending cuts.

Source & Image : BBC