The European Central Bank has decided to keep the eurozone base interest rate at 2 percent, a move that was widely expected, following almost regular cuts since October 2008.

Following it’s last rate cut in January, when half a percentage point was cut, the ECB had said its February meeting would not be important for monetary policy – code for no rate cut expected.

Instead, attention will turn to March’s meeting, where it is expected that interest rates will be cut another half a percentage point.