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Eurozone interest rates kept on hold at 0.75% | Eurozone interest rates kept on hold at 0.75% |
(35 minutes later) | |
The European Central Bank (ECB) has left eurozone interest rates unchanged at 0.75%, as had been widely expected. | The European Central Bank (ECB) has left eurozone interest rates unchanged at 0.75%, as had been widely expected. |
Many analysts do not expect the ECB to alter rates from their current record low until next year at the earliest. | Many analysts do not expect the ECB to alter rates from their current record low until next year at the earliest. |
Recent surveys have suggested that the pace of decline in the eurozone's manufacturing and service sectors has slowed. | Recent surveys have suggested that the pace of decline in the eurozone's manufacturing and service sectors has slowed. |
The UK's Bank of England also announced on Thursday that it would be keeping its main interest rate on hold at 0.5%. | The UK's Bank of England also announced on Thursday that it would be keeping its main interest rate on hold at 0.5%. |
The last time the ECB made a change to its main interest rate was in July, when it was cut from 1%. | |
ECB president Mario Draghi holds a news conference later, where he is expected to face questions over the ECB's sensitivity to recent rises in the value of the euro. |