The European Central Bank (ECB) has kept interest rates stable at 4.25% despite growing pressure for a rate cut.
Inflation in the Eurozone has fallen to 3.6%, but is still well above its target of 2%.
However, the economic downturn, which has hit a number of economies in the single currency area, may prompt rate cuts in the near future.
Ireland became the first economy to enter a formal recession in the third quarter as it suffered two consecutive quarters of negative economic growth.
Other economies have also seen a sharp fall in output and the growing financial crisis might cause GDP to fall in a number of European states, leading to calls for a cut in interest rates.
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Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till