The European Central Bank (ECB) today announced its decision to maintain the current interest rates. The benchmark interest rate will remain at 1%, a level it has been at since May 2009.
The ECB’s governing council, led by President Jean-Claude Trichet, made the announcement following its regular monetary policy meeting. Economists had widely anticipated the decision, given the fragile state of the Eurozone economy.
In a press conference following the announcement, Mr. Trichet emphasized the ECB’s commitment to price stability and its ongoing monitoring of economic developments. He noted some signs of improvement in certain sectors but cautioned against complacency, citing ongoing concerns about sovereign debt and potential risks to financial stability.
Key points from the press conference include:
- Interest rates remain unchanged.
- The ECB is closely monitoring economic developments.
- Concerns remain about sovereign debt.
The ECB’s next monetary policy meeting is scheduled for March, where further assessment of the economic outlook will be conducted.
