European Central Bank and Bank of England expected to keep rates on hold; Greek banks hit by capital outflows
Apr 8th, 2010 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The Governing Council of the European Central Bank is expected to keep its benchmark rate on hold at 1%, at its meeting in Frankfurt today. In London, the Bank of England Monetary Policy Committee is likely to keep its policy rate on hold at 0.5% - -a 1694 year low. In related news, Greek banks have asked their government for help as capital is flowing from them to perceived safety abroad.