European Central Bank keeps rate unchanged at 1%



ECB More Worried About Growth

ECB More Worried About Growth

Despite fears of spiraling inflation, the European Central Bank (ECB), has decided to keep interest rates unchanged at the record low level of 1%.

The latest move comes close to the heels of encouraging worldwide economic recovery news.

The Markit Purchasing Managers Index (PMI) has grown to 57.3 in January from 57.1 in December for the Eurozone, data released on Monday by Markit – the market survey company, showed.

Any reading above 50 indicates an activity growth for that particular segment.

A similar survey conducted in the US – the ISM survey, showed factory output jumped to 60.8 in January from 58.5 in December.

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