The European Central Bank confirmed the interest rates in the euro area for the fourth consecutive month, which therefore remain at an all-time low 0,75%. The latest reduction dates back to last July (-0,25%). Today's decision, communicated at the end of the Governing Council meeting in Frankfurt, is in line with analysts' expectations.
Only yesterday the European Commission published the updated forecasts on the euroland economy. Brussels estimates a recession of 0,4% this year and +0,1% for 2013.
The president of the ECB, Mario Draghi, warned that "overall economic activity is weak and no improvements are expected in the short term".
