Mexican Media Brands
ECB Holds Interest Rates Steady
The European Central Bank, which in June dropped its benchmark lending rate to 0.15% from 0.25%, has extended the lower rate.
#economics
Share
The European Central Bank, which in June dropped its benchmark lending rate to 0.15% from 0.25%, has extended the lower rate.
The bank says it will keep rates low for an "extended" period because of the eurozone's fragile economic recovery.
Economists continue to worry that the region's ultra-low inflation rate, which fell to 0.4% in July, could slip into a damaging period of deflation. The ECB targets an inflation rate of about 2%.
The central bank predicts a continuing "moderate and uneven" recovery for the eurozone. It cautions that geopolitical risks in Ukraine and Russia pose a greater economic impact on the eurozone than other parts of the world.
To help keep eurozone expansion on track, the ECB is offering low-rate long-term loans to banks. It also continues as the first major central bank to offer negative interest rates (-0.1%) to its bank depositors.
RELATED CONTENT
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.