This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-34139583
The article has changed 6 times. There is an RSS feed of changes available.
Version 0 | Version 1 |
---|---|
ECB keeps interest rates on hold | ECB keeps interest rates on hold |
(35 minutes later) | |
The European Central Bank (ECB) has kept its main interest rate on hold at 0.05% amid investor concern about the fallout from China's economic slowdown. | |
Attention now turns to ECB chief Mario Draghi's news conference shortly for clues about the bank's next moves and its new inflation and growth forecasts. | |
There has been speculation that the ECB might have to extend its current bond-buying programme. | There has been speculation that the ECB might have to extend its current bond-buying programme. |
The ECB also kept the rate on bank overnight deposits at minus 0.2%. | |
That means banks must pay to hold funds at the central bank. | |
The ECB also maintained its emergency overnight borrowing rate for banks at 0.3%. | |
Earlier on Thursday, a survey indicated that activity among eurozone businesses rose at the fastest pace for more than four years in August. | |
The composite purchasing managers' index (PMI) compiled by Markit rose to 54.3 last month, up from July's figure of 53.9. A figure above 50 indicates expansion. | The composite purchasing managers' index (PMI) compiled by Markit rose to 54.3 last month, up from July's figure of 53.9. A figure above 50 indicates expansion. |
Markit chief economist Chris Williamson said the PMI results suggested that the eurozone's economy would grow by 0.4% in the third quarter of the year, which he called "a solid - albeit unspectacular - rate of expansion". | Markit chief economist Chris Williamson said the PMI results suggested that the eurozone's economy would grow by 0.4% in the third quarter of the year, which he called "a solid - albeit unspectacular - rate of expansion". |