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Tags: europe | central bank | rates | ecb

ECB Holds Rates Despite Cypriot Jolt to Euro Confidence

Thursday, 04 April 2013 07:53 AM

The European Central Bank held its main interest rate at a record low of 0.75 percent on Thursday, as it waits to see whether the economy stabilizes or a recent slew of weak economic data is a start of another downturn.

Some ECB policymakers, including President Mario Draghi, have stressed that the central bank's top priority is to enhance the transmission of its already ultra-low interest rates across the eurozone as interest banks charge vary wildly across the common currency area.
Thursday's decisions mark the ninth month running with the ECB's main interest rate on hold at 0.75 percent.

The eurozone struck a deal last month to hand Cyprus a bailout worth 10 billion euros ($12.84 billion) but demanded rich depositors in its banks forfeit some money despite the risk of a wider bank run.

The central bank also left the interest rate on its deposit facility at 0.0 percent and held its marginal lending facility — or emergency borrowing rate — at 1.50 percent.

© 2022 Thomson/Reuters. All rights reserved.


FinanceNews
The European Central Bank held its main interest rate at a record low of 0.75 percent on Thursday, as it waits to see whether the economy stabilises or a recent slew of weak economic data is a start of another downturn.Some ECB policymakers, including President Mario...
europe,central bank,rates,ecb
163
2013-53-04
Thursday, 04 April 2013 07:53 AM
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