By Marcus Leach

As the eurozone debt crisis deepens the European Central Bank (ECB) has maintained the interest rates at 1.5% having raised them by 0.25% in July.

It is the third straight month that the ECB have opted to keep the rate held at 1.5%, and follows on from the Bank of England holding their rates at 0.5%. However, the Bank of England did go ahead with a second round of quantitive easing.

The ECB's decision comes amid intense speculation that European leaders are preparing moves to recapitalise banks.

It had been expected, in some quarters, to see a cut in rates given the slowing of growth in the eurozone economy.

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