European Central Bank keeps its benchmark interest rate on hold at 1.0%
Oct 7th, 2010 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The European Central Bank (ECB) as expected kept its benchmark interest rate on hold at 1.0%, at a meeting of the governing council in Frankfurt, today. The ECB president, Jean-Claude Trichet, will address a press conference and he is expected respond to questions on the rise of the euro close to $1.40 against the US dollar and fears of a currency war among the major trading nations as each tries to push down currency values to boost their economies.