budget deficit

Euro interest rates remain on hold as Euro bank bosses dismisses talk of Greece leaving

by Ray Clancy on January 19, 2010

Interest rates in Europe are expected to remain on hold for the long term as a result of uneven and low inflation, according to the latest report from the European Central Bank.  Last week the ECB kept eurozone interest rates on hold at 1% for the eighth consecutive month and despite positive data showing industrial production is growing at twice the expected rate, president Jean-Claude Trichet defended the decision saying Europe’s economic recovery is likely to be patchy.

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