ECB holds rate at 2%
The European Central Bank has kept the European base rate at 2%.
Jean-Claude Trichet, president of the ECB, indicated that the rate is likely to fall in March by 0.5% to 1.5% and could go lower.
The decision by the ECB governing council members was unanimous although a range of views had been expressed at the meeting.
This is the first month since October, when the rate was 4.5%, where there has been no rate cut.
Date:
February 5, 2009
