ECB leaves cost of borrowing unchanged

The decision was widely expected after the ECB cut rates to rock-bottom levels in September

The European Central Bank left interest rates unchanged on Thursday, holding them at record lows while it considers whether to print money to buy government debt to shore up the euro zone economy.

The decision to leave the cost of borrowing at record lows was widely expected after the ECB cut rates to rock-bottom levels in September and the bank's president, Mario Draghi, then said they had hit "the lower bound".

At Thursday's meeting, the ECB left its main refinancing rate, which determines the cost of credit in the economy, at 0.05 percent.

It also kept the rate on bank overnight deposits at -0.20 percent, which means banks pay to park funds at the central bank, and held its marginal lending facility - or emergency overnight borrowing rate for banks - at 0.30 percent.

Markets now turn their attention to Draghi's 1330 GMT news conference, watching for any indications on the shape or timing of possible government bond buys - a step known as quantitative easing.