European Central Bank holds interest rate at 4.25 percent on 100 Mortgages

No change for the interest rate issued by the European Central Bank, it’s been left a 4.25 percent, although this was widely anticipated. Jean-Claude Trichet, the ECB President hinted that it there will not be a change in the rate in the immediate future.

The period of weak activity for the euro-zone was acknowledged by Trichet in his monthly news conference. Although he highlighted the inflation worries, and that it will remain high above the central bank’s medium target.

Trichet was quoted in sating Inflation is “likely to remain well above levels consistent with price stability for a protracted period of time and that upside risks to price stability over the medium term prevail,”

Shortly after the news conference, the Euro sunk 0.5 percent against the U.S. Dollar to $1.4415 in recent trades.

Source marketwatch

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