ECB holds interest rate at 0.75%

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.

By: Tom Brown
+44 208 652 3214

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