ECB Holds Key Interest Rate at 3.75 Percent, Awaiting Inflation Evidence

(Bloomberg) -- The European Central Bank left interest rates unchanged after seven increases since late 2005, awaiting evidence that inflation will pick up before raising borrowing costs again.

Policy makers meeting in Frankfurt today kept the benchmark refinancing rate at 3.75 percent, as anticipated by all 43 economists in a Bloomberg News survey. The bank will raise the rate to 4 percent in June, a separate survey shows.


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