Posted on 09/05/08
ECB, Bank of England leave rates steady
The European Central Bank and the Bank of England both held their official interest rates steady yesterday as rising inflation outweighed concerns about slowing economic growth across the European Union. But the two banks are expected to take different paths next month when the ECB is likely to again keep its borrowing rate at 4 per cent to fight inflation, while many economists expect the British central bank to cut its own rate by a quarter percentage point from the current 5 per cent. Soaring food and energy prices have made the European banks reluctant to follow the U.S. Federal Reserve in cutting interest rates to shore up consumer confidence and economic growth.
The full text of this article has 114 words.
To continue reading this article, you will need to purchase this article.
Already have a member account? Login now
Pay-Per-View Offers To read the complete article, select one of the following options
Purchasing from globeandmail.com is quick and secure.
