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European Central Bank Leaves Rates Unchanged

Citing ongoing concerns with Greece’s future and making only a passing reference to the slumping Euro, the European Central Bank (ECB) kept its benchmark interest rates at 1%.

“Greece is keeping the ECB in wait-and-see mode,” said Carsten Brzeski, an economist at ING Group in Brussels. “The indirect impact from the Greek case is that we will see more fiscal tightening from several euro-zone members earlier than the ECB thought, which has a deflationary impact and is slowing down the recovery.”

Source: Bloomberg [1]

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Scott Boyd

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