ECB holds minimum bid "refi" rate steady at 2.00 pct

0 Comments | AFP, November, 2004

FRANKFURT (AFP) — The European Central Bank held the minimum bid rate for its regular refinancing operations steady at 2.00 percent, a spokesman for the bank said.

The ECB has held the so-called refi rate at the same point since June 2003.

It also held its other two key rates -- the deposit rate and the marginal lending rate -- unchanged at 1.00 percent and 3.00 percent respectively.

The Bank of England also left interest rates unchanged on Thursday for a third successive month amid speculation that borrowing costs may remain at 4.75 percent well into next year as the economy cools.

ECB President Jean-Claude Trichet was scheduled to hold a press conference at 1330 GMT to explain the conditions that led to the decision to retain the rate at its...