
The European Central Bank left its benchmark interest rate on hold at 0.05 percent on Thursday as anticipation grows for a private sector assets purchase program, worth hundreds of billions of euros, to stimulate the economy.
“At today’s meeting, which was held in Naples, the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.05 percent, 0.30 percent and -0.20 percent respectively.” said in a statement released from ECB on its website.
In its previous meeting on September 4, the bank had cut its main interest rates to 0.05 percent in order to stimulate the Eurozone economy, which is showing signs of deflationary risks.
Economists see deflation as a notable risk factor as consumers, expecting prices to fall, might spend less, thus threatening to bring the stuttering Eurozone economy to a complete halt.
GMT 19:30 2018 Wednesday ,03 January
EU launches last crisis-battling finance reformGMT 17:13 2017 Thursday ,14 December
South Korea bans its banks from dealing in BitcoinGMT 19:16 2017 Monday ,11 December
Britain’s smaller banks jostle for business banking grantsGMT 19:31 2017 Sunday ,10 December
Britain’s smaller banks jostle for business banking grantsGMT 17:28 2017 Thursday ,07 December
India's central bank holds rates at seven-year lowGMT 17:55 2017 Sunday ,03 December
Saudi banks prepare for riyal coinsGMT 15:10 2017 Wednesday ,29 November
Societe Generale shares climb after cost-cutting planGMT 19:22 2017 Friday ,17 November
Deutsche Boerse taps top banker as new CEO
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor