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ECB keeps rates on hold after Fed move

ECB keeps rates on hold after Fed move

The European Central Bank has left its main interest rate unchanged at 1 percent for the 18th consecutive month.
The ECB's decision Thursday to leave its benchmark refinancing rate at a record low was widely expected.
It came the day after the U.S. Federal Reserve decided to buy hundreds of billions more in Treasury Bonds in an effort to invigorate the economy _ a well-telegraphed move that the ECB has shown no inclination to follow and helped push the euro above $1.42 to a new nine-month high.
The ECB appears to be preparing to phase out more of its crisis lending programs, possibly as soon as December.
The Bank of England earlier Thursday left its interest rates at 0.5 percent for the 20th consecutive month.


Updated : 2021-08-01 20:06 GMT+08:00