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ECB keeps key interest rate at 1%, to almost everyone's benefit

Posted Dec 3rd 2009 6:00PM by Joseph Lazzaro (RSS feed)
Filed under: International Markets

The European Central Bank Thursday kept its key, short-term interest rate the same at 1%, a move investors in Europe and around the world no-doubt welcomed, for several reasons.

First, Europe's economy is nowhere near sustainable growth status: euro-zone GDP will likely to show a 3.7-4.0% contraction in 2009, and post only a modest increase in 2010 -- perhaps as low as 0.5-1.0% GDP growth. ECB President Jean-Claude Trichet underscored as much. "We know we have a bumpy road ahead of us," Trichet said, Reuters reported Thursday.

Continue reading ECB keeps key interest rate at 1%, to almost everyone's benefit

ECB Trichet's comments show central banks' delicate balancing act

Posted Nov 20th 2009 5:40PM by Joseph Lazzaro (RSS feed)
Filed under: International Markets, Indices, DJIA, Financial Crisis

European Central Bank President Jean-Claude Trichet jolted the markets Friday with the announcement that the ECB will gradually withdraw the emergency cash injections it has added to the financial system, in order to prevent an acceleration in inflation.

"Not all our liquidity measures will be needed to the same extent as in the past," Trichet said at a conference in Frankfurt Friday, Bloomberg News reported. "Any non-standard measure whose continuation would pose a threat to the achievement of price stability must be undone promptly and unequivocally."

Continue reading ECB Trichet's comments show central banks' delicate balancing act