European Central Bank keeps rates unchanged

The European Central Bank (ECB) has kept interest rates unchanged at 3.75%. However, prospects from the bank’s September meeting were “wide open”, ECB President Christine Lagarde said.

She added that growth was likely to have slowed in the second quarter, while investment activity along with poor industrial output suggested sluggish expansion in the immediate future.

However, Lagarde refused to be drawn on the issue of a specific rate path, simply saying “the question of September and what we do in September is wide open”.

Source: WORLD ECONOMIC