Last updated: October 01. 2013 8:40AM - 113 Views
Associated Press

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(AP) Economists expect the European Central Bank to hold its key interest rate unchanged at a record low 0.5 percent when it meets Wednesday as prospects improve for the eurozone's fledgling recovery.

A rate cut could lower borrowing costs and help the economy. But economic indicators show the recovery continuing after a return to modest growth in the second quarter.

Traders, investors and analysts are waiting for ECB President Mario Draghi's news conference after the meeting Wednesday in Paris to see if he will say more about whether the bank might offer more long-term cheap credit to banks. That would be a way of keeping the cost of credit in Europe from rising if the U.S. Federal Reserve decides to tighten its own monetary policy.

Associated Press
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