ECB keeps benchmark rate at 1.5%; Bank of England keeps rate at 0.5% — a 1694-year low — and will buy £75bn of government bonds
Oct 6th, 2011 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The European Central Bank (ECB) today left its benchmark interest rate unchanged at 1.5% for a third straight month, despite the worsening sovereign-debt crisis. Meanwhile, the Bank of England kept its key interest rate at 0.5% -- a 1694-year low -- and it also agreed to buy £75bn worth of government bonds.