The European Central Bank has kept eurozone borrowing costs at an historic low of 1 percent, after cutting rates twice in recent months. Uncertainty about the eurozone economy is still high, the bank says.

European Central Bank president Mario Draghi explained the ECB's rate decision to keep the lending rate at 1 percent with improvements in the eurozone economy in the past month, although he said uncertainty would remain high.

"Available survey indicators confirm some tentative signs of stabilization of economic activity at low level around the turn of the year," Draghi told a news conference after the bank's monthly policy meeting in Frankfurt.