ECB Holds Rates at 0.5 Percent

Recent economic data has shown that an economic recovery may be taking hold in the eurozone.

Eurozone factory activity grew for the third month running in September, according to a survey.

ECB president Mario Draghi is expected to give more guidance on the health of the eurozone at a press conference later on Wednesday.

The ECB has previously said its low rates are supporting a recovery and that governments must now restructure their economies and cut excessive levels of debt.

Mr Draghi said in July that the ECB was likely to keep rates at their current low levels for an “extended period” to bolster recovery.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza