EBC holds interest rates at 4.25%

Minimum bid rate on the main refinancing operations will remain at 4.25%, while interest rates on the marginal lending facility will stay unchanged at 5.25%. The deposit facility holds at 2.35%. Jean-Claude Trichet, ECB president said, after a ‘brilliant’ first quarter, Europe has entered a trough, which will progressively clear and it will see a gradual recovery. The situation is highly conditional, but the ECB will do what is needed so by 2010, it will reach its goals, he stressed. According to the BBC, the main concern for the ECB is how to control inflation, which they believe is 3...