European Central Bank keeps interest rates at a record low 1.0%
07 October 2010 14:01 [Source: ICIS news]
LONDON (ICIS)--The European Central Bank (ECB) on Thursday left interest rates for the 16-nation eurozone unchanged at the record low level of 1.0% for the 17th consecutive month in an effort to support economic confidence.
The bank had cut its key rate several times from the October 2008 level of 4.25% as it tried to take
At a monthly news conference later on Thursday, ECB president Jean-Claude Trichet was expected to answer questions regarding the euro's rebound against other major currencies.
Earlier, the Bank of England announced it would hold interest rates at 0.5% for the 19th consecutive month and leave its quantitative easing policy unchanged.
($1 = €0.72)
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