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ECB leaves key rate at 1 percent
Draghi to underline bank's ability to withdraw massive bank loans when the time comes
By The Associated Press

FRANKFURT, Germany (AP) ' The European Central Bank left its key interest rate unchanged at a record low 1 percent Wednesday.

Analysts say rates and emergency measures are on hold for now after the ECB made a big move in December and again in February to support the weak economy of the 17-country group that uses the euro in its struggle with too much government debt.

Investors are waiting to hear ECB President Mario Draghi's outlook later Wednesday at a news conference.



The ECB made '1 trillion ($1.3 trillion) in cheap three-year loans to hundreds of banks Dec. 21 and Feb. 29 which has helped calm Europe's crisis for the moment with indebted governments currently finding it easier to borrow.

But weak monetary and credit indicators are suggesting that the ECB money will take time to reach the economy in the form of new lending to businesses.


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