ECB leaves rates unchanged at 1.5 per cent
The European Central Bank left its benchmark refinancing rate unchanged at 1.5 per cent on Thursday, DPA reported.
The decision was in line with analysts' forecasts, coming at a point of worries about a slowdown in the European economy, coupled with an easing of inflation pressures.
The ECB governing council had previously this year delivered two 25-basis points hikes, most recently in July, and appeared determined to raise rates again at some point later in the year.
But a series of recent data pointing to a downturn in business and investment sentiment around Europe, a slowdown in economic growth rates in key economies, and an easing of inflationary pressures may have now persuaded the ECB to think otherwise.
Once again, analysts and markets will be closely watching ECB chief Jean-Claude Trichet's remarks at the follow-up press conference for signals about the eurozone bank's rate policy thinking.