European Central Bank holds rates steady

[WriteDown]

Source: AP

ECB holds rates steady, but says cut was examined as financial crisis expands in Europe

FRANKFURT, Germany (AP) -- The European Central Bank left its key interest rate unchanged Thursday amid concerns over inflation but explored the option of lowering the rate as the financial crisis increasingly affects the continent.

ECB President Jean-Claude Trichet said the bank's governing council decided unanimously to leave its refinancing rate at 4.25 percent -- but first weighed up their choices.

"We have examined two options. One, interest rates unchanged. Another one, decreasing interest rates," Trichet told reporters after the announcement. "Our unanimous conclusion is that we were right in maintaing interest rates as they are. But we examined the two options."....

Read more: http://biz.yahoo.com/ap/081002/eu_europe_interest_rates.html

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Ouch. It may actually be WORSE in Europe. This sounds very bad.

[marmar]

1. "It may actually be WORSE in Europe"

I doubt that.

[WriteDown]

2. You can doubt...

but I can read :eyes:.

[RaleighNCDUer]

3. That is just TERRIBLE!

They aren't PANICKING!!!!