The European Central Bank has left its key interest rate unchanged at a record low of one per cent, holding off on further measures to boost the shaky economy in the 17 countries that use the euro.
The eurozone debt crisis has eased recently, and investors and analysts are waiting to see whether ECB president Mario Draghi gives a slightly more upbeat assessment of the economy.
Recent indicators suggest the current slowdown might not be too deep. That would give the bank a reason to hold off on more cuts.
The ECB is waiting to see whether its more than one trillion euros in cheap loans to banks will result in more lending to businesses and consumers. The loans have helped steady wobbly banks and lowered borrowing costs for indebted governments.
Meanwhile, the Bank of England also voted to hold its key interest rate at 0.50 per cent, with Britain close to another recession three years after it slashed borrowing costs to the current record-low level.
The central bank also maintained the level of its asset purchasing aimed at boosting lending among banks at STG325 billion ($A485 billion), it added in a statement following a two-day monetary policy meeting on Thursday.