ECB holds interest rate at 0.75%
The European Central Bank has held its main interest rate at the record low of 0.75 per cent
The decision was announced ahead of a pivotal speech by ECB president Mario Draghi, in which he is expected to lay out a plan to buy up bonds issued by struggling southern European countries.
Mr Draghi is expected to speak at 1:30pm.
The ECB cut rates from 1 per cent to the record low of 0.75 per cent in July this year.