News features
ECB maintains interest rates at 4.25%
Friday, 05 Sep 2008 05:13
The European Central Bank (ECB) has announced its decision to maintain the minimum bid rate on the main refinancing operations at its current level of 4.25 per cent.
In addition, the financial institution has elected to maintain the interest rates on the marginal lending facility and the deposit facility at 5.25 per cent and 3.25 per cent respectively.
Speaking to reporters at a press conference following the announcement, Jean-Claude Trichet, president of the central bank, said the ECB is "resolute" in its determination to keep inflation expectations in line with price stability.
"Growth in the world economy is expected to remain relatively resilient, benefiting mainly from sustained growth in emerging economies. This should support external demand for euro-area goods and services and thereby investment," Mr Trichet added.
The announcement follows news that the Bank of England's monetary policy committee elected to maintain the base rate of interest at its current level of five per cent following the conclusion of its meeting yesterday.
Related Articles
Updates are coming shortly