06 September 2012 12:53 [Source: ICIS news]
LONDON (ICIS)—The European Central Bank is to hold its key interest rate at its current level of 0.75%, it said on Thursday.
The news comes ahead of an anticipated announcement of a plan for the ECB to buy up bonds from embattled governments in a bid to reduce borrowing costs and stabilise the eurozone.The ECB reduced its key rate of interest to 0.75% on 5 July this year. Prior to that, the ECB interest rate had stood at 1.00 for six months.
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