Subscribe Register Login

Friday, August 22, 2014, 3:05 a.m.
Top Picks - Mobile App

ECB leaves rates at record low as Europe struggles

By The Associated Press

This article was published January 10, 2013 at 8:06 a.m.

— The European Central Bank has left its benchmark interest rate unchanged at a record low of 0.75 percent even though the economy in the euro area remains stuck in recession.

Markets were waiting to hear ECB head Mario Draghi talk about his outlook for the economy at a news conference later Thursday.

The bank held off cutting rates after recent economic survey data supported its position that the economy in the 17 European Union member countries that use the euro will recover gradually this year.

The bank sets monetary policy for the eurozone and its 333 million people.

The ECB last month slashed its economic forecast for this year from 0.5 percent growth to a decline of 0.3 percent, with growth resuming only later in the year. Some indicators of business optimism, such as eurozone surveys of purchasing managers and Germany’s Ifo institute survey of 7,000 business executives, have risen recently.

Comments on: ECB leaves rates at record low as Europe struggles

To report abuse or misuse of this area please hit the "Suggest Removal" link in the comment to alert our online managers. Read our Terms of Use policy.

Subscribe Register Login

You must login to make comments.

TOP JOBS

  • General clerk iii

    Serco Hiring Event Friday, August 15, 2014 Strengthen Your C...
    ROGERS, AR

  • Legal support sp.

    Arkansas Workers' Compensation Commissionlegal support speci...
    LITTLE ROCK, AR

  • Gi lab tech

    TECH needed for GI Lab. FT, M-F, no holidays. Experience pre...
    SHERWOOD, AR

  • Cna's: all shifts

    ashley health and rehabilitation is accepting applications f...
    ROGERS, AR

  • Cna sponsorships

    Brighton ridge attention Brighton Ridge of Eureka Springs is...
    EUREKA SPRINGS, AR

Search 848 jobs >

Top Picks - Mobile App
Arkansas Online