02 December 2010 13:45 [Source: ICIS news]
LONDON (ICIS)--The European Central Bank (ECB) kept interest rates at the record low of 1% for the 19th consecutive month on Thursday, as the eurozone struggles with debt problems.
The Frankfurt-based central bank’s president, Jean-Claude Trichet, will later on Thursday make an announcement on whether the ECB will take more action to stop the spread of the debt crisis in the 16-member eurozone.
These measures could include a temporary extension of the ECB’s provision of unlimited liquidity for banks and a ramp-up of its bond purchases.
Investors have been dumping Irish, Greek, Portuguese, Spanish and Belgian assets after the EU-led rescue package for ?xml:namespace>
The ECB cut its key rate several times from the October 2008 level of 4.25% as it tried to take
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