ECB leaves interest rates unchanged in Eurozone

Frankfurt, April 5 (IANS/EFE) The European Central Bank has left its benchmark interest rate unchanged at 0.75 percent despite the worsening situation in the Eurozone.

The majority of analysts were not looking for a change in rates even though indicators have been pointing to a worsening of conditions in the countries that use the single currency.

The purchasing managers and business confidence indexes in Germany, the engine of the Eurozone economy, have been falling.

The ECB has been looking at additional options for stimulating economic activity in the Eurozone, making it easier for businesses to borrow and helping banks restructure their balance sheets.

Other global central banks also made interest rate announcements Thursday, with the Bank of England leaving its benchmark rate unchanged at 0.50 percent and not altering its economic stimulus program.

The Bank of Japan, meanwhile, announced plans for more monetary easing and additional bond purchases.

–IANS/EFE

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