European Central Bank president Jean-Claude Trichet tells FRANCE 24 that Europe needs to find its own solutions, and that to follow the US example would be naïve.
The European Central Bank has decided to leave interest rates at the historical low level of 1%. The Bank of England has mirrored this move and has also decided to keep interest rates on hold at 0.5%.
Analysts expect eurozone interest rates to be left firmly on hold at 1.0 percent this Thursday. The rate has been at a record low since May and is likely to remain at this level amid ongoing concerns about the strength of the economic recovery.
European Central Bank chief Jean-Claude Trichet said on Sunday that leading central bank governors have agreed on a package of measures to strengthen the regulation and supervision of the banking industry.
Despite tighter lending conditions and fears of deflation, the European Central Bank (ECB) kept its main interest rate unchanged at a record low of one percent on Thursday. The Bank of England also left its key rate unchanged at 0.5 percent.
Seeking to spur bank lending and pull continental economies out of recession, the European Central Bank has poured 442 billion euros ($613 billion) into money markets via the offer of one-year funds, its biggest ever fund injection.
The European Central Bank president, Jean-Claude Trichet, warned against, but did not dismiss, European predictions of economic recovery in the first quarter of 2010. He also insisted that no additional EU stimulus plans were necessary.
The European Central Bank (ECB) warned on Thursday that the Eurozone economy would contract 4.6 percent this year, much more than previously feared. Its interest rates is being kept at a record low of 1.0 percent.
The European Central Bank (ECB) is poised to keep interest rates at a record low of 1.0 percent. Given the Eurozone's economic recession, economists expect the ECB to restrict its key rates well into 2010.
The European Central Bank cut its main interest rate by 0.25 points to 1.0 percent, an historic low. It's the seventh time in a row the ECB has lowered its main rate since the beginning of the financial crisis.
