The World Economy... - 11/6/2010

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ECB Kept Its Key Policy Rate Unchanged As Pressure Mounts Over Bond PurchasesThe European Central Bank (ECB) left its key policy rate unchanged at a record low of 1.0% since May 2009, as austerity measures may curb the region’s economic growth. The ECB indicated that interest rates are at appropriate levels, signaling that it sees no immediate need to cut borrowing costs any time soon. Furthermore, the ECB believes that inflationary pressures over the medium term remain contained and inflation expectations remain firmly anchored, suggesting that price stability will likely be maintained over the medium term.

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ECB Kept Its Key Policy Rate Unchanged As Pressure Mounts Over Bond PurchasesThe European Central Bank (ECB) left its key policy rate unchanged at a record low of 1.0% since May 2009, as austerity measures may curb the region’s economic growth. The ECB indicated that interest rates are at appropriate levels, signaling that it sees no immediate need to cut borrowing costs any time soon. Furthermore, the ECB believes that inflationary pressures over the medium term remain contained and inflation expectations remain firmly anchored, suggesting that price stability will likely be maintained over the medium term.

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