European interest rates held steady

EUROPE - The European Central Bank (ECB) has left eurozone interest rates unchanged for the second month in a row. Their main refinancing rate remains at 4.5%.

The bank had faced heavy pressure to cut rates, in the light of the softer economic outlook across Europe.

But in the weeks leading up to the meeting, European monetary officials repeatedly stressed their opposition to a cut purely aimed at stimulating economic growth.

Less than an hour before the ECB unveiled its decision, the Bank of En