ECB provides little support as Europe slides deeper into recession

The ECB met on Thursday and offered little prospect that the bank would deliver more support to Europe's stagnating economy by leaving rates on hold.

5th May, 2012
Vincent Killeen: 'Next week's BoE meeting will be a key event for sterling'.

The ECB met on Thursday and offered little prospect that the bank would deliver more support to Europe's stagnating economy by leaving rates on hold.

ECB president Mario Draghi said policymakers did not discuss lowering the benchmark rate from 1 per cent, instead, saying it is up to governments to foster growth and spur job creation that would work alongside spending cuts.

Investors were somewhat surprised at the tone of Draghi's comments after eurozone economic data...

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