Lending rate unchanged at ECB

FRANKFURT, Germany, March 6 (UPI) -- The European Central Bank left its key interest rate unchanged at 4 percent, the bank announced Thursday.

Analysts had widely expected the bank to leave rates unchanged.

The bank has not changed its rate for 10 months as European Central Bank President Jean Claude Trichet remains staunchly committed to keeping the rate low to head off inflation, which remained unchanged in February at 3.2 percent within the Eurozone.

The rate is 1.2 percent above the bank's inflation target of 2 percent.

Among the bank's considerations, unemployment in the Eurozone fell to a record low of 7.1 percent in January.