European Central Bank holds key interest rate at 1.0%

06 June 2012 12:56  [Source: ICIS news]

LONDON (ICIS)--The European Central Bank (ECB) on Wednesday held interest rates at a record low of 1.0%, unchanged for a sixth straight month.

In December, the ECB cut interest rates to 1% from 1.25%, following a fall of 25 basis points announced in November.

After October 2008, when the level was at 4.25%, the bank cut its key rate several times as it tried to haul the eurozone’s economy out of deep recession.


By: Graeme Paterson
+44 20 8652 3214



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