Article: ECB leaves rates at 4% as urgency dissipates

Carter Dougherty The New York Times Media Group
International Herald Tribune
05-09-2008
ECB leaves rates at 4% as urgency dissipates
Byline: Carter Dougherty The New York Times Media Group
Edition: 4
Section: NEWS

ATHENS --

The European Central Bank said Thursday that the turmoil wracking global financial markets showed signs of tapering off as it left its benchmark interest rate unchanged at 4 percent.

The bank gave no sign that it was hurrying to raise or lower borrowing costs, and said that the European economy was still showing resilience in the face of the crisis.
The ECB president, Jean-Claude Trichet, sounded an upbeat note about financial turbulence, which has been driven by massive ...