The European Central Bank has kept its main lending rate steady at 4.25 percent, despite growing pressure from the international banking crisis and slumping eurozone economies.
Worries that rising wages could stoke inflation helped convince ECB governors that Two more German banks admit exposure to Lehman failure ...
ECB to inject 70 billion into money market ...
G20 examines slowing world economy, inflation ...
Correspondent confirms Russian tanks in Gori ... the time was not yet ripe for a rate cut. The bank's president, Jean-Claude Trichet, said a cut was "considered", but rejected because it was still "crucial" to keep "inflation expectation in line."
(Deutsche Welle)
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