{"id":163,"date":"2007-09-06T14:29:47","date_gmt":"2007-09-06T14:29:47","guid":{"rendered":"http:\/\/www.the-finance-zone.co.uk\/economy\/163\/"},"modified":"2007-09-06T14:29:47","modified_gmt":"2007-09-06T14:29:47","slug":"163","status":"publish","type":"post","link":"https:\/\/the-finance-zone.co.uk\/index.php\/2007\/09\/06\/163\/","title":{"rendered":""},"content":{"rendered":"\n\n\n
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ECB leaves interest rates on hold<\/div>\n<\/div>\n<\/td>\n<\/tr>\n
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\"Euro<\/p>\n
The ECB had earlier been expected to raise rates<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/table>\n

The European Central Bank (ECB) has opted to keep interest rates on hold at 4%, as jitters continue to unsettle markets worldwide.<\/strong>The widely-expected decision in the 13-member area comes as central banks try to prevent market turmoil from turning into a bigger financial crisis.<\/p>\n

Before the recent volatility, caused by problems in the US housing market, rates had been set to rise to 4.25%.<\/p>\n

Earlier on Thursday, the Bank of England kept UK rates on hold at 5.75%.<\/p>\n

<\/font><\/td>\n<\/tr>\n<\/table>\n

Uncertainty<\/strong><\/p>\n

Central banks in Australia and Canada also decided to keep rates on hold this week.<\/p>\n

Explaining the background to the unanimous decision, ECB president Jean-Claude Trichet said the fundamentals of the eurozone economy remained strong but the recent turmoil on financial markets meant policymakers needed to proceed with caution.<\/p>\n

“The financial market volatility and reappraisal of risk in recent weeks have led to an increase in uncertainty,” he said.<\/p>\n

“Given this high level of uncertainty, it is appropriate to gather additional information and examine new data before deriving further conclusions for monetary policy.”<\/p>\n

Mr Trichet said growth across the eurozone had slowed during the second quarter but that key indicators such as unemployment remained “favourable”.<\/p>\n","protected":false},"excerpt":{"rendered":"

ECB leaves interest rates on hold The ECB had earlier been expected to raise rates The European Central Bank (ECB)<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[12],"tags":[],"class_list":["post-163","post","type-post","status-publish","format-standard","hentry","category-economy"],"_links":{"self":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/163","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=163"}],"version-history":[{"count":0,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/163\/revisions"}],"wp:attachment":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=163"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}