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The European Central Bank has held its main interest rate at 1 per cent, despite the deteriorating eurozone economic outlook, as it piles pressure on politicians to resolve the region’s debt crisis.
The decision by the ECB’s 22-strong governing council in Frankfurt, was widely expected, although some economists had forecast a quarter percentage point interest rate cut.
Mario Draghi, ECB president, warned last week that the bank could not “fill the vacuum” created by politicians’ inactivity.
Steven
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