×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: ECB | Inflation | Growth | Risks

ECB Holds Rates as Inflation Eclipses Growth Risks

Thursday, 06 September 2012 08:12 AM

The European Central Bank held its main interest rate at a record low of 0.75 percent on Thursday, holding fire after a pick-up in inflation last month offset pressure to breathe life into the flagging eurozone economy by easing borrowing costs.

Annual eurozone inflation accelerated to 2.6 percent in August from 2.4 percent in July, coming in stronger than expected and further above the ECB's target of just below 2 percent.

The ECB also left the interest rate on its deposit facility at 0.0 percent — a low it went to for the first time in July to encourage banks to lend overnight to other banks, where they receive a higher rate, currently about 0.1 percent.

The ECB held its marginal lending facility — or emergency borrowing rate — at 1.50 percent.


© 2022 Thomson/Reuters. All rights reserved.


129
2012-12-06
Thursday, 06 September 2012 08:12 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved