European Central Bank keeps benchmark rate at 1%; Bank of England kept its key rate at 0.5% - - the lowest since 1694
Aug 5th, 2010 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The European Central Bank left its main interest rate unchanged on Thursday at a record low of 1% for the 15th consecutive month. The ECB president, Jean-Claude Trichet, is addressing a press conference and is expected to acknowledge the recent improvement in the outlook for the Eurozone and the recovery of the euro from 1999 year lows versus the US dollar.In London, the Bank of England kept its key rate at 0.5% - - the lowest since 1694.