European Central Bank Keeps Interest Rate at 1 Percent
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July 5, 2009 by admin
The European Central Bank left its benchmark interest rate unchanged at 1 percent as it waits to see whether a massive infusion of credit into the banking system will help the euro zone’s struggling economy.
Markets and analysts will be looking to Thursday’s remarks by bank President Jean-Claude Trichet about the ECB’s $623 billion in 12-month loans offered to banks last week, its biggest ever, and what it augurs for the 16-nation euro zone in a bid to try to keep cash flowing to, from and between banks. Read more…
- Euro Trades Near Two-Week Low as Region’s Jobless Rate Rises (Bloomberg)
- Euro Trades Near Two-Week Low on Concern Recession May Deepen (Bloomberg)
- ECB’s Trichet Sees Ongoing Deterioration of Euro Zone Economy






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