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European Central Bank's Interest Rates Unchanged
The European Central Bank's governing council decided Thursday to keep its primary interests rates unchanged.
The decision was made after a telephone conference of the council, which consists of central bank executives of the 12 euro member countries. Greece took part in the meeting for the first time after it formally joined the Euro group on the New Year's Day.
According to the decision, the key interest rate of the European Central Bank will remain at 4.75 percent.
Meanwhile, the euro bounced back Thursday after it tumbled from around 0.96 to 0.93 U.S. dollars Wednesday following the surprising cut of interest rates by the U.S. Federal Reserve Board.
Thursday's Central Bank's reference price for one euro was 0. 9458 U.S. dollars.
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