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ECB rate unchanged
Source: Agencies |
February 10, 2012, Friday
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Print Edition
Print Edition
THE European Central Bank left its benchmark interest rate unchanged at a record low 1 percent yesterday, while it waits to see whether the economy needs more help as the 17 countries that use the euro struggle with a debt crisis and likely recession.
Bank President Mario Draghi was yesterday due to face media questions over whether the bank will contribute to a new bailout for Greece. The ECB could do that by giving up profits on Greek government bonds it bought at knock-down prices.
The Bank of England also left rates unchanged but announced it would buy 50 billion pounds (US$79 billion) more in bonds to stimulate the British economy.
Bank President Mario Draghi was yesterday due to face media questions over whether the bank will contribute to a new bailout for Greece. The ECB could do that by giving up profits on Greek government bonds it bought at knock-down prices.
The Bank of England also left rates unchanged but announced it would buy 50 billion pounds (US$79 billion) more in bonds to stimulate the British economy.
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