Thursday August 6, 12:49 PM
ECB holds key rate at 1.0%
FRANKFURT (AFP) - The European Central Bank kept its main interest rate steady at an all-time low point of 1.0 percent after its 22-member governing council met on Thursday, a bank spokesman said.
The 22-member council left two other reference rates, the marginal lending rate and the deposit rate, unchanged as well at 1.75 percent and 0.25 percent, respectively.
Central banks in most major economies seek to boost flagging economies with ultra-low lending rates and are also using unconventional monetary policies to counter a credit crunch that has hampered economic activity.
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