Amid signs of improving economy, ECB keeps rate unchanged at 1 pct

European Central Bank keeps rate steady

FRANKFURT — The European Central Bank has left its benchmark rate unchanged at 1 percent as markets wait for word that it may raise its economic forecasts.

The ECB, which sets interest rates for the 16 countries that use the euro, will explain its decision at a press conference later Thursday. The bank is also expected to deliver new forecasts on inflation.

The bank’s key refinancing rate has stood at 1 percent — a record low — since May as the bank moved to get cash flowing among European banks and help them during the world financial crisis.