European Central Bank Keeps Interest Rates Unchanged at 0.75%

by Colonel on February 7, 2013

“Comments by the European Central Bank (ECB) chief on the euro’s recent strength have prompted it to fall more than a cent against the dollar and a penny against the pound.

Mario Draghi said its rise affected prices and economic growth, and was something the ECB was monitoring.

His remarks, which came after the ECB’s monthly interest rate meeting, saw the euro fall to 85.3p and $1.34.

The ECB kept its interest rate unchanged at 0.75%, as expected.

Many analysts do not expect the ECB to alter rates from their current record low until next year at the earliest.

Mr Draghi told the news conference that the recent appreciation of the single currency – which has gained 12% against the dollar since the summer – was another a sign of confidence.

” — Copyright 2013 BBC

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