ECB set to hold rates
ECONOMISTS predict that European Central Bank (ECB) rates will stay at their record low level for at least another year.
However, its expected that the rates will be steadily hiked at the end of next year given the cooling of the US economy and dampening effects from fiscal tightening in the EMU.
According to a Reuters poll, the ECB, led by Jean-Claude Trichet (above) will hold interest rates at 1pc. The poll pointed to a higher chance of a hike by the middle of next year.