ECB leaves interest rates unchanged at 1 percent for 14th straight month
By APThursday, July 8, 2010
ECB leaves interest rates on hold again
BERLIN — The European Central Bank has left its benchmark interest rate unchanged at a record low of 1 percent for the 14th consecutive month.
The ECB’s governing council had been widely expected to leave its refinancing rate where it has been since May 2009 at its meeting Thursday.
Economic growth in the 16-nation eurozone remains tame and inflation low — fueling expectations the ECB will stay put for months to come.
With rates on hold, ECB President Jean-Claude Trichet was expected to face questions at a post-decision news conference on banks’ demand for cash and the upcoming publication of “stress tests” on European banks.
Separately, the Bank of England left its base interest rate at a record low of 0.5 percent for the 17th straight month.
