04 Mar.
The European Central Bank and the Bank of England left their benchmark interest rates unchanged at historic lows today, as both worried about the strength of the economic recovery.
The European Central Bank, which sets monetary policy for the 16 countries in the euro zone, left its benchmark interest rate at 1 percent, where it has been since May. The bank believes that the euro-zone economy remains too weak to create an imminent danger of inflation.
The Bank of England left its benchmark rate unchanged for a 12th month, at 0.5 percent and announced no increase to its £200 billion asset purchase programme.
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