Forex | Forex | European Central Bank Hold Rates Steady At 1.00% (06/08/2009 11:57:08)

European Central Bank Hold Rates Steady At 1.00%

The European central bank (ECB) kept the key interest rate unchanged at its historical low of 1% for the fourth straight month. The rate was lowered by 3.25% since October 2008 to give an impetus to the economy after the massive degradation that hit all sectors on the back of the economic recession that adversely impacted global economies last year. The bank also announced today that they will continue their 60 billion bonds purchase plan that started on July 6 and expected to continue over the


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