ECB interest rates set to remain at record lows

INTEREST rates are likely to remain at a record low for the coming months and may even fall further.

The European Central Bank (ECB) left rates on hold for the second consecutive month yesterday and president Jean-Claude Trichet refused to rule out further rate cuts in the coming months.

He said the current rates are appropriate but added that the governing council “did not decide...that this was the lowest level we would attain under any circumstances”.