The European Central Bank has left interest rates unchanged at 0.05 percent.

The decision to maintain the status quo was widely expected after the ECB cut interest rates to rock-bottom levels last month.

It is holding them at record lows while it rolls out a batch of measures it hopes will see off the spectre of deflation and revive the euro zone economy.

The ECB is expected to give details later on Thursday of its asset purchase programme announced last month.

It has already ruled out buying government bonds like other central banks have done, but has yet to make clear what it will be buying.