8-2-2012- European Central Bank announcing it will not be cutting interest rates to help the euro and the European Economy. ECB President Mario Draghi said in a press conference in Frankfurt that cutting the interest rate even lower than the 0.75% rate was discusses in the bank's meeting on Thursday but he said it "wasn't the time." The rate hold will continue as the ECB sees if inflation and the euro zone economy will slow further before making a decision.
The only plan Draghi discussed was the buying of bonds. saying it "may undertake outright open market operations of a size adequate to reach its objective." But this plan isn't concrete, and doesn't outline specifically what the ECB plans to do in the bond market.
This "wait and see" approach, echoed by the U.S. Federal Reserve yesterday, is not appeasing investors at all. Currently, the markets are falling on this news with the Dow losing close to 90 points after the opening bell.