Business World

Saturday 25 November 2017

ECB holds rates at record 1pc lows reporters

THE European Central Bank has kept its key interest rate at 1pc, a record low.

It had been widely anticipated that the rate would remained unchanged.

The ECB met in Barcelona today as opposed to its usual location of Frankfurt.

The ECB also said the interest rate on its deposit facility would remain at 0.25pc, and the rate on the marginal lending facility would stay at 1.75pc.

ECB President Mario Draghi said that European governments must push growth - but also focus on bringing down deficits.

"We have to put growth back at the centre of the agenda," said Mr Draghi.

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