At yesterday’s meeting of the Governing Council of the European Central Bank, the council decided that the minimum bid rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 4.25%, 5.25% and 3.25% respectively.

The ECB decision was announced by president Jean Claude Trichet following the monthly meeting of the Governing Council.

The Bank of England also held its rates at 5.0% for the fifth month running, but financial experts are predicting that recession worries may well prompt a rate cut before the end the year.

Permalink: European Central Bank interest rates unchanged