Wednesday, June 6, 2012

The European Central Bank says it will keep its benchmark interest rate at the current 1 percent, a record low.

The bank's policymakers decided to maintain the rate for a 6th straight month at a board meeting on Wednesday, at its headquarters in Frankfurt, Germany.

The central bank is faced with growing calls for new steps to counter declines in stock prices and in the euro amid concerns over a new parliamentary election in Greece and the financial strength of Spanish banks.

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