ECB Keeps Rates Unchanged as Italy Turmoil Threatens Recovery

The European Central Bank left interest rates on hold as it gauges how big a threat Italy poses to the economic recovery.

Policy makers meeting in Frankfurt today kept the benchmark rate at a record low of 0.75 percent, as forecast by 56 of 61 economists in a Bloomberg News survey. President Mario Draghi holds a press conference at 2:30 p.m. to explain the decision.