ECB stays on hold as Britain raises rate

ECB interest rates were kept on hold yesterday while Britain’s Monetary Policy Committee raised rates another 0.25%.

Europe’s central bankers decided sufficient buoyancy existed, making a further cut from the base 2% rate unnecessary.

Eurozone weakness until recently raised expectations the ECB would introduce one more interest rate cut to kick-start the economy, which in key states such as Germany and France, was virtually stagnant.