(by Ginger O'Neil)

The European Central Bank is hesitating on whether lift the interest rate now after it seemed to have decided the move.

The move is the first one within a four-year time. "It looks like the economic recovery has lost a bit of strength," said ECB executive-board member Jose Manuel Gonzalez-Paramo.

Earlier this month, the ECB left its key rate on hold at 2% but warned that inflation was "worrisome."

In September, the ECB was saying eurozone economic growth gained its momentum “and should remain firm in the coming quarters,” raising expectations about rate hike.