3 Jul 2009

ECB keeps rates at 1%

9:01 am on 3 July 2009

The European Central Bank has left its main refinancing interest rate unchanged at a record low of 1%. The decision was expected.

President Jean-Claude Trichet said on Thursday the ECB would start buying bonds next week.

The ECB also kept its overnight deposit rate at 0.25% and its marginal lending rate at 1.75%.

Since October, the ECB has lowered its interest rates from 4.25%.