08 July 2010 12:45 [Source: ICIS news]
LONDON (ICIS news)--The European Central Bank (ECB) left interest rates unchanged on Thursday at the record low level of 1.0% for the 14th straight month.
The bank had cut its key rate several times from the October 2008 level of 4.25% as it tried to take ?xml:namespace>
At a monthly news conference later on Thursday, ECB president Jean-Claude Trichet, was expected to be questioned on the upcoming publication of "stress tests" on European banks, which hope to reassure markets that institutions were stable enough to withstand another sharp economic downturn.
Earlier, the Bank of England announced it would hold interest rates at 0.5% for the 14th consecutive month and leave its quantitative easing policy unchanged.
On 7 July, official statistical office Eurostat announced that
($1 = €0.79)
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