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Jan13
Top European banks stand pat on key interest rates
Filed under: Cash Advance; Tagged as: AHN, bank, bank of england, Banks, ECB, European, Eurozone, interest, linda young, LONDON, news writer, percent, rates, stand, Thursday, United KingdomComments OffLinda Young – AHN News WriterLondon, United Kingdom (AHN) – The European Central Bank met Thursday and kept its key interest rate unchanged at 1.0 percent.
ECB officials made the decision after cutting rates for the previous two months in an effort to boost growth in the eurozone. They mentioned continued high uncertainty in the eurozone.
Although many analysts predict the ECB will cut rates later in the year, it has not dropped below 1 percent since the ECB began setting rates 13 years ago.
The Bank of England also announced on Thursday that it was keeping its key interest rates unchanged at 0.5 percent. It has kept the rate at that level since March 2009.
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