LUXEMBOURG: The European Central Bank left its benchmark interest rate unchanged at 1 percent Thursday, preferring to wait and see if its "spectacular" infusion of credit into the banking system will loosen lending to consumers and businesses in the euro zone's struggling economy.
Bank President Jean-Claude Trichet said the ECB was pleased by the demand for its record euro442 billion ($623 billion) in 12-month credits to banks last week, but wouldn't comment about what more it might do.
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