ECB Holds Rate Steady at 1%
The ECB announced its interest rate decision today, keeping the rate at 1% -- as expected. However, even with this low interest rate, the ECB is still beginning to unwind some of its other stimulus measures in preparation for moving into economic recovery mode.
There is still a serious drain on eurozone economic recovery, though: Greece is presenting all sorts of problems as it continues to struggle. While the ECB doesn't want to bail out the debt-ridden country, it may be forced to help to some degree by the exposure that many non-Greek banks throughout the eurozone have to Green debt.
However, this news hasn't meant a decline for the euro in forex trading against the U.S. dollar. The EUR/USD pair remains mostly rangebound right now, but the euro has the advantage.
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- Eurozone Economic Trends
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