European Central Bank Leaves Interest Rates Unchanged

Frankfurt (Aug 7)  The European Central Bank Thursday left interest rates unchanged in a move that was widely expected.

The government council decided that interest rates on the main refinancing operations, the marginal lending facility and the deposit facility will remain at 0.15%, 0.40% and minus 0.10%, respectively.

The ECB cut rates back in June. Economists and foreign-exchange strategists expected policy-makers to remain on hold as they continued to assess the impact of the June accommodation measures.

Recent data shows that eurozone inflation remains tame, falling in July to 0.4% year-on-year, the lowest level since October 2009 and well below the ECB’s target rate of 2%.

Source: KitcoNews