ECB leaves main interest rate unchanged at 1 per cent

As expected, the monthly meeting of the ECB’s governing council decides not to tinker with the main interest rates.

THE EUROPEAN CENTRAL BANK has, as expected, left its main interest rate unchanged at 1 per cent.

The bank also left its interest rates on its marginal lending and deposit facilities unchanged at 1.75 and 0.25 per cent respectively.

The decisions came at the monthly meeting of the bank’s governing council, which contains representatives from each of the 17 eurozone member states.

The main interest rate was cut by 0.25 per cent at each of Mario Draghi’s first two meetings since he took over from Jean-Claude Trichet as the bank’s president in November, but has not been adjusted so far in 2012.

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Michael Probst/AP

ECB

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Gavan Reilly

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