Fiji Time: 12:04 AM on Saturday 25 October

Fiji Times Logo

/ Front page / Business

Interest rates remain same

Bbc.Co.Uk
Thursday, January 17, 2013

THE European Central Bank (ECB) has left eurozone interest rates unchanged at 0.75 per cent, as had been widely expected.

Rates have now been at this level for six months after July's cut from 1 per cent.

Figures released last week showed the unemployment rate across the eurozone worsened in November, hitting a record high of 11.8 per cent.

The UK's Bank of England also announced on Thursday that it would be keeping its main interest rate on hold.

"The economic weakness in the euro area is expected to extend into 2013," said ECB president Mario Draghi.

"In particular, necessary balance sheet adjustments in financial and non-financial sectors and persistent uncertainty will continue to weigh on economic activity. Later in 2013, economic activity should gradually recover."

The economy of the 17-member eurozone bloc is currently in recession, having contracted by 0.1 per cent between July and September, after shrinking 0.2 per cent in the previous three months.





Fiji Times Front Page Thumbnail

Kaila Front Page ThumbnailFiji Times & Kaila Frontpage PDF Downloads

Use the free Acrobat Reader to view.

Today's Most Read Stories

  1. Kepa's not weak
  2. Full pay while on leave
  3. Ryan's fight to help 7s
  4. Emotional experience
  5. Fear not, go to the hospital
  6. Hindus give thanks
  7. Call to probe e-ticketing
  8. FRCA officials remember fallen colleagues
  9. UN hails Fiji's effort
  10. Print media an effective cancer awareness tool

Top Stories this Week

  1. Death shocks family Monday (20 Oct)
  2. Biman gets nod Saturday (18 Oct)
  3. Inside Fiji sevens Tuesday (21 Oct)
  4. Budget overspent Wednesday (22 Oct)
  5. Public access Tuesday (21 Oct)
  6. Forgery suspect still in remand Tuesday (21 Oct)
  7. Kepa's not weak Friday (24 Oct)
  8. $20m in excess Wednesday (22 Oct)
  9. Full pay while on leave Friday (24 Oct)
  10. $11.9m in arrears Wednesday (22 Oct)