News Column

ECB interest rate unchanged

July 4, 2014

THE European Central Bank has left its main interest rate unchanged at a record low of 0.15 per cent, holding off fresh policy action while it waits for stimulus measures announced last month to take effect. The decision to leave rates unchanged was expected after the ECB cut them in June, taking its deposit rate below zero and launched a new round of long-term loans to boost lending. Yesterday the ECB kept the rate on bank overnight deposits at -0.10 per cent. That means banks are paying to park their funds at the ECB.

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Source: Herald, The (Scotland)

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