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EuropeECB leaves rates unchanged, sees gradual recoveryWicklow
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| Date posted: |
2012-06-06 19:41 | |
FRANKFURT (AP) — The European Central Bank has left its benchmark interest rate unchanged as it increases the pressure on eurozone leaders to tackle a government debt crisis that threatens the global economy.
The decision Wednesday by the bank's 23-member governing council left the refinancing rate at a record low 1 percent. The bank is under pressure to stimulate a weakening economy of the 17 countries that use the euro with a rate cut. But Bank President Mario Draghi undermined any hopes of a cut by sticking to the bank's earlier forecast for a gradual recovery this year. |
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