The European Central Bank (ECB) keeps rates steady

The Council of the European Central Bank (ECB) has kept eurozone interest rates unchanged at 1.5%.

The rate, which stood at a record level of 1% for over a year has increased twice this year to its current level of 1.5%.

The ECB is one of the major central banks to make the decision to leave interest rates unchanged today.

Bank of England again kept UK interest rates unchanged at 0.5% and the Bank of Japan left rates very low for his country remains unchanged as well.

However, Japan has added 10000000000000 yen to the quantitative easing program to help its economy following the earthquake that struck earlier this year.

The ECB is particularly complex and difficult challenge to meet because of the euro area in many countries with different economic situations and a variety of public finances.

The BBC reported today that the Commission President José Manuel Barroso, warned that the crisis of sovereign debt in the euro area extends from the periphery.