ECB continues to hold interest rates at record low 1%

03 September 2009 12:59  [Source: ICIS news]

LONDON (ICIS news)--The European Central Bank (ECB) left interest rates unchanged on Thursday, keeping them at a record low of 1%.

With the eurozone showing some signs of recovery and France and Germany’s earlier-than-forecast exit from recession, the bank is widely seen as being wary of hindering any "green shoots".

The ECB has cut its key rate several times from the October 2008 level of 4.25% as it tries to boost economic activity amid a deep recession in Europe.

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By: Lucy Craymer
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