ECB, Bank of England key rates on hold

VIENNA, Oct. 4 (UPI) -- The European Central Bank and the Bank of England have left key policy interest rates on hold.

Observers predicted the increasing risk of economic fallout likely will keep European rates from rising soon despite inflation concerns, the Wall Street Journal said.

The European Central Bank kept its key policy interest rates unchanged at 4 percent Thursday, as expected.

Earlier, the Bank of England held its benchmark interest rate steady at 5.75 percent.

Jean-Claude Trichet, ECB president, said upward risks to price stability remain over the medium term while money and credit growth remain vigorous.

Trichet said the credit turmoil had not changed the bank's view that the euro-zone economy remains solid.