ECB keeps key interest rate at 1%, to almost everyone's benefit

Filed under: International markets

The European Central Bank Thursday kept its key, short-term interest rate the same at 1%, a move investors in Europe and around the world no-doubt welcomed, for several reasons.

First, Europe's economy is nowhere near sustainable growth status: euro-zone GDP will likely to show a 3.7-4.0% contraction in 2009, and post only a modest increase in 2010 -- perhaps as low as 0.5-1.0% GDP growth. ECB President Jean-Claude Trichet underscored as much. "We know we have a bumpy road ahead of us," Trichet said, Reuters reported Thursday.

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ECB keeps key interest rate at 1%, to almost everyone's benefit originally appeared on BloggingStocks on Thu, 03 Dec 2009 18:00:00 EST. Please see our terms for use of feeds.

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