ECB leaves interest rates unchanged

The European Central Bank has left its key interest rates unchanged at a record-low 0.75 per cent.

10th January, 2013
“Draghi’s medicine is working, the economic outlook has improved," one analyst said of ECB policy.

The European Central Bank has left its key interest rate unchanged at a record-low 0.75 per cent after the first meeting of the year of ECB policy makers in Frankfurt.

While officials discussed a cut in borrowing costs last month, only five out of 55 economists in a Bloomberg survey had predicted a cut today. The remainder predicted no change in rates.

“The economy does not scream rate cut right now,” said James Nixon, chief European economist...

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