European Central Bank leaves main interest rate unchanged at 1 percent

September 3rd, 2009 European Central Bank keeps rate steadyFRANKFURT — The European Central Bank has left its benchmark rate unchanged at 1 percent as markets wait for word that it may raise its economic forecasts. The ECB, which sets interest rates for the 16 countries that use the euro, will explain its decision at a press conference later Thursday.

July 28th, 2009 India central bank says economy could grow fasterNEW DELHI — India's central bank left interest rates unchanged Tuesday and said Asia's third-biggest economy could grow faster than forecast as it emerges from the global credit bust. Bank Gov. D. Subbarao said "the global economy was showing incipient signs of stabilization, albeit not recovery." The central bank said there is now "an upward bias" to its forecast for the economy to grow 6 percent in the year ending March 2010.

July 15th, 2009 Japan's central bank keeps rates steadyTOKYO — Japan's central bank has kept its benchmark interest rate steady amid signs that the economy has ended its slide. The Bank of Japan's eight-member policy board voted unanimously to leave its overnight call rate target unchanged at 0.1 percent, as widely expected by the market.

July 7th, 2009 Australia leaves key interest rate unchangedSYDNEY — Australia's central bank left its key interest rate unchanged for the third month at 3 percent Tuesday, citing a stabilizing global situation and stronger-than-expected domestic economy. The Reserve Bank of Australia has kept rates at the current level — their lowest in 49 years — since April but said in a statement there is room for further cuts this year if necessary.

July 2nd, 2009 ECB expected to keep interest rate at 1 percentFRANKFURT — The European Central Bank is expected to keep its key interest rate steady at 1 percent when it meets Thursday as it waits to see whether a massive infusion of credit into the banking system will help Europe's struggling economy. Marco Valli, the chief Italian economist at UniCredit said he thought the bank would keep its main interest rate unchanged through the rest of the year, and well into next year, meaning meeting in Luxembourg would largely be "uneventful and calm," he said.

June 4th, 2009 Dollar gains as ECB, BofE leave rates unchangedNEW YORK — The dollar moved higher Thursday after the European Central Bank and Bank of England both left interest rates unchanged, as expected. The 16-nation euro dropped to $1.4128 in early New York trading from $1.4134 late Wednesday.

June 4th, 2009 European Central Bank keeps rates unchangedFRANKFURT — The European Central Bank kept its main interest rate unchanged at a historic low of 1 percent on Thursday amid a deeper than anticipated recession. The ECB's decision to keep the refinancing rate on hold for the 16 nations that share the euro was in line with expectations after the bank indicated last month it did not intend to make further cuts in the near term.

June 4th, 2009 Canada keeps interest rate at record lowTORONTO — Canada's central bank is keeping its trendsetting interest rate unchanged at a historic low of 0.25 percent and says the rise of the Canadian dollar is threatening the country's economic recovery. The Bank of Canada reiterated Thursday its conditional commitment to hold the rate at a record low through June 2010.

May 8th, 2009 Denmark cuts key interest rate to to 1.65 percentCOPENHAGEN — Denmark's central bank says it has cut its key interest rate by 0.35 percentage point to 1.65 percent. Denmark's Nationalbanken says the decision was a consequence of a rate cut by the European Central Bank earlier in the day.

May 8th, 2009 ECB cuts a quarter percent, will buy bondsFRANKFURT — The European Central Bank will purchase euro-denominated covered bonds and extend 12-month credits to banks as it moves to get more money flowing through the 16-nation euro zone economy. ECB President Jean-Claude Trichet, in remarks to reporters after the bank lowered its benchmark interest rate to 1 percent, unveiled the measures to accompany already announced increased liquidity and broader collateral rules for banks.

April 30th, 2009 Japan's central bank keeps interest rate on holdTOKYO — Japan's central bank kept its benchmark interest rate steady amid signs that the country's economic picture may be brightening. The Bank of Japan's eight-member policy board voted unanimously Thursday to leave the overnight call rate target unchanged at 0.1 percent, as widely expected.

April 21st, 2009 MUMBAI - India's Central bank cut key rates Tuesday by 25 basis points in a move to infuse more liquidity into the system and stimulate lending growth. The Reserve Bank of India (RBI) cut the repo rate by 25 basis points from the current 5 percent to 4.75 percent, while the reverse repo rate has been brought down to 3.25 percent from 3.5 percent earlier.

January 26th, 2009 MUMBAI - Following are the highlights of the quarterly monetary policy review conducted by the Reserve Bank of India (RBI) here Friday in which some key rates were left unchanged and the country's growth targeted was lowered for this fiscal: - Bank rate kept unchanged at 6 percent. - Repo rate has been kept unchanged at 5.5 percent.

January 26th, 2009 MUMBAI - India's central bank decided to maintain status quo on key rates and lowered the country's growth target for this fiscal to seven percent as it presented the third quarter review of its monetary policy here Tuesday. The benchmark bank rate, the repurchase rate, the reverse repurchase rate, the cash reserve ratio (CRR) and the statutory liquidity ratio (SLR) were all kept unchanged by Reserve Bank of India (RBI) Governor D.

January 5th, 2009 KOLKATA - The United Bank of India (UBI) has reduced its prime lending rate by 50 basis points to 13 percent effective from Jan 12, it said here Tuesday. 'With this, the existing floating rate in all corporate and retail categories borrowers such as SME (small and medium enterprises), agriculture, housing, auto and vehicle loans, as well as potential borrowers will get the benefit of reduced rate of interest,' a bank statement said.