FRANKFURT, Germany (AP) -- The European Central Bank and the Bank of England each kept their benchmark interest rates unchanged Thursday in the face of mounting inflation fears and slowing economic growth across Europe.The decisions to leave key rates at 4.25 percent in the 15 European nations that use the euro and 5 percent in Britain were largely expected but reporters were looking for any hints about the course of the ECB's rate policy when bank president Jean-Claude Trichet speaks to them later.
The ECB's rate is at a seven-year high while the Bank of England has left its rate unchanged at 5 percent since April when it lowered the figure by a quarter of a percentage point.
The ECB in July moved to cool inflation by increasing borrowing costs for the first time in a year to 4.25 percent for the euro-zone.
Read More
