European Central Bank keeps its benchmark interest rate on hold at 1.0%; Trichet to address press conference; Bank of England leaves rate at 1694 low
Nov 4th, 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 confirm the continuation of emergency funding for Eurozone banks into 2011. In addition, he is expected to respond the announcement on Wednesday by the Federal Reserve of plans to resume its purchase of government bonds i.e. money printing.