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ECB leaves rates on hold for 15th month

Friday 6th August 2010

The European Central Bank has left interest rates unchanged for the 15th consecutive month at a record low of 1%.

The decision by the ECB was largely expected although eurozone inflation has picked up at a rate of 1.7% in July. In addition, the ECB announced that rates are likely to remain unchanged until at least 2011.

Eurozone GDP figures next week are likely to show that the region’s economy expanded strongly in the second quarter powered by Germany’s manufacturing and export led growth. The region is anticipated to have grown faster than the US economy in the same period.

If you would like more information about European related investments, or would like to know how the global recovery could affect your investments, please contact us.

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