ECB leaves bench­mark rate un­changed

The Pak Banker - - Company& -

BER­LIN: The Euro­pean Cen­tral Bank says it is keep­ing its bench­mark in­ter­est rate un­changed at the record low of 1 per­cent for the 19th straight month.

The de­ci­sion Thurs­day was widely an­tic­i­pated as Euro­pean economies are still re­cov­er­ing from the eco­nomic down­turn and the debt cri­sis threat­ens to desta­bi­lize weaker na­tions.

The ECB also ap­pears set to keep its spe­cial mea­sures to flood banks with cash and could even step up pur­chases of govern­ment bonds to help con­tain the debt mar­ket turmoil that threat­ens to spi­ral out of con­trol even af­ter last week­end's bailout of Ire­land. - PB News

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