Both the BoE and the ECB leave benchmark rates steady (AP) (08-05-2008)

ATHENS, Greece (AP) -- The European Central Bank left its interest unchanged at 4% on Thursday, shortly after the BoE, which left its own at 5%, a decision that was expected by the majority of economists.

The European central bank has maintained its benchmark rate level throughout the crisis while the U.S. Federal Reserve has lowered rates seven times in seven months to 2 percent.

ECB president Jean-Claude Trichet will present the bank's rationale for leaving the rate for the euro zone at 4 percent -- where it has stood since last summer -- when he meets with reporters in the Greek capital.

In London, the Bank of England shied away from back-to-back rate cuts despite slowing economic growth.

  SourceAP