European Central Bank holds key interest rate steady at 4.00 percent

0 Comments | AFP, January, 2008

FRANKFURT (AFP) — The European Central Bank held its main interest rate steady as expected on Thursday amid rising inflation and slowing economic growth.

The ECB said the minimum bid rate for its regular refinancing operations would remain unchanged at 4.00 percent.

Earlier in London, the Bank of England had also kept its key interest rate at 5.50 percent percent amid a gloomy outlook on the consumer front.

In Frankfurt, the ECB maintained its two other key rates -- the deposit rate and the marginal lending rate -- unchanged at 3.00 percent and 5.00 percent respectively.

© 2008 AFP