Kamis, 04 Juli 2013

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ECB holds key rate at record low

The European Central Bank (ECB) has left interest rates at an historic low level of 0.5%.

Interest rates were cut from 0.75% in May, which was the first fall in 10 months.

The decision not to cut rates further came despite an ongoing recession across the 17 countries that use the euro.

The ECB said in June that it expected that the eurozone area would contract by 0.6% in 2013.



Source: BBC News - Business http://www.bbc.co.uk/news/business-23181876#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa