Alexa

ECB keeps interest rates on hold amid uncertainty

ECB keeps interest rates on hold amid uncertainty

The European Central Bank has left its benchmark interest rate unchanged at 1.5 percent amid growing fears that the eurozone's debt crisis is derailing its economic recovery.
Many economists expect the bank will signal it won't touch rates for some time because of signs that growth is weakening due to fears that excessive government debt will harm the financial system and the economy.
Bank President Jean-Claude Trichet is scheduled to speak later Thursday about the bank's outlook.
He's expected to confirm the bank sees less risk of inflation and that growth prospects are weaker than they were just a few weeks ago. Higher rates help prevent inflation but can hurt growth as well.


Updated : 2021-01-21 18:38 GMT+08:00