ECB opts for steady rates again
AFP, August, 2005
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FRANKFURT (AFP) — The European Central Bank held its key interest rates steady again amid signs that the economic downturn seen earlier this year is finally coming to an end.
At its regular monthly policy-setting, The ECB maintained the minimum bid rate for its regular refinancing operations at 2.00 percent, where it has been since June 2003. And 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.
Just 45 minutes earlier, the Bank of England had cut its key interest rate for the first time in more than two years, trimming the repo rate by a quarter of a percentage point to 4.50 percent amid signs of weakening economic growth in Britain.
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But with the stalled economy in continental Europe finally showing tentative signs of recovery, no interest rate moves ...
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