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Article: European, British central banks leave rates alone
- Article from:
- AP Worldstream
- Article date:
- November 5, 2009
- Author:
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The head of the European Central Bank on Thursday hinted it could begin withdrawing some of its crisis measures soon, while the Bank of England pumped more money into the economy in an attempt to get Britain out of recession.
Neither bank touched interest rates, already at record lows of 1 percent for the eurozone and 0.5 percent in Britain.
ECB President Jean-Claude Trichet said that the 16 euro countries face an uncertain recovery. But he broadly hinted the bank was getting ready to take back some of its added lending measures that have provided banks with ready cash during the financial crisis and promised to say more at next month's meeting.
"We will do the ...