Investing.com – The European Central Bank kept its benchmark interest rate unchanged for the fourth consecutive month in October, it announced on Thursday.
The ECB said it was maintaining the benchmark interest rate at 1.50%, in a widely expected move.
ECB president Jean-Claude Trichet, who will be heading his final interest rate meeting as ECB chief, was to comment on the decision at a press conference later in the day.
Following the announcement, the euro remained lower against the U.S. dollar, with EUR/USD slumping 0.56% to trade at 1.3275.
Meanwhile, European stock markets were broadly higher. The EURO STOXX 50 climbed 1.3%, France’s CAC 40 rose 1.55%, Germany's DAX advanced 1%, while the FTSE 100 added 1.7%.
The ECB said it was maintaining the benchmark interest rate at 1.50%, in a widely expected move.
ECB president Jean-Claude Trichet, who will be heading his final interest rate meeting as ECB chief, was to comment on the decision at a press conference later in the day.
Following the announcement, the euro remained lower against the U.S. dollar, with EUR/USD slumping 0.56% to trade at 1.3275.
Meanwhile, European stock markets were broadly higher. The EURO STOXX 50 climbed 1.3%, France’s CAC 40 rose 1.55%, Germany's DAX advanced 1%, while the FTSE 100 added 1.7%.