Reply #15: ECB remains deaf to calls to cut rates in face of surging euro - [View All]

[54anickel]

That 'splains it! Didn't think they'd have already had this meeting. Too early for me, need more coffee! (Thanks dog)

http://www.channelnewsasia.com/stories/afp_world_business/view/65424/1/.html

FRANKFURT : The European Central Bank, holding its first policy-setting meeting of this year, refused to heed calls for lower interest rates as a way of reining in the runaway euro.

As widely anticipated, the ECB's governing council announced it was holding the bank's central "refi" refinancing rate steady at 2.00 percent, where it has been since June.

And the guardian of the euro also left its other two key rates -- the deposit rate and the marginal lending rate -- unchanged at 1.00 percent and 3.00 percent respectively.

The announcement came just 45 minutes after the Bank of England had also decided to start the new year with steady rates.

more....

Did anyone really think they would change the rates? I mean, come on, the rise in their currencies is NOT because their economies are over heated or anything.
Sheesh, should the world realy be expected to abandon basic economic responsibility to cover our butts forever?:eyes: