facebook
twitter
search
search

ECB and BOE leave interest rates as is

Feb. 9, 2012 at 12:35 PM

FRANKFURT, Germany, Feb. 9 (UPI) -- The European Central Bank and the Bank of England both left monetary policy unchanged Thursday, the banks said in separate announcements.

The ECB left its key interest rate at 1 percent while the BOE maintained its 0.5 percent rate for overnight lending.

At a press conference in Frankfurt, Germany, ECB President Mario Draghi said, "The underlying pace of monetary expansion remains subdued."

He said stable interest rates "ensure a firm anchoring of inflation expectations in line with our aim of maintaining inflation rates below, but close to 2 percent of the medium term."

The eurozone economy, he said, shows "tentative signs of stabilization in economic activity at low levels."

The BOE does not explain its monetary decisions until three weeks after their meetings with a release of meeting minutes.

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Latest Headlines
Top Stories
Compact cannon for British armored vehicles
New Zealand military receives medium heavy military trucks
BBC to lay off 1,000 people to make up for $234M in lost revenue
Aetna to acquire Humana for $37 billion in cash, stocks
U.S. proposes tighter pipeline spill rules