European Interest Rates Remain At 4% As Predicted
The European Central Bank has today announced maintained interest rates at 4% across the Eurozone, for the second consecutive month.
The European Central Bank, responsible for economic policy across the thirteen eurozone nations, announced today its decision to maintain interest rates at the level set last month.
Interest rates throughout Europe have grown steadily over the last two years, leading to suppressed economic growth and business expansion.
However, slowing growth and receding inflation over the last month may be behind the decision from the ECB today in leaving rates untouched after the decision to settle at 4% over a month ago.
The news is set to be taken well by markets across Europe, as a relief for business and homeowners alike after consistent rises in recent months leading to increased borrowing costs across the eurozone.
Markets across Europe have been struggling over the last few weeks, after poor trading in the US, and the feared impact of growing interest rates on business and company performance.
But the ECB have maintained monitoring inflation is high on their list of priorities, promising to tackle any perceived risk head on in order to prevent uncontrollable price rises.
The euro has remained consistent against the dollar, which has led to poor eurozone exports through increased pricing.
Fears of a further strengthening of the currency were today forgotten, as the interest rate decision remained within the boundaries of analyst predictions.
The Bank of England also announced no change in interest rates today, as predicted by analysts earlier in the week. The news would suggest that the interest rate decisions of the last few months are taking their effect in curbing inflation and consumer spending, despite analyst forecasts of impending further rises throughout the second half of this year.
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