ECB Keeps Rate at 4.25% Even as Recession Looms

Oct. 2 (Bloomberg) — The European Central Bank kept interest rates at a seven-year high today to curb inflation, even after the credit crunch forced governments to bail out banks and increased the likelihood of a recession.ECB policy makers meeting in Frankfurt left the benchmark lending rate at 4.25 percent, as predicted by all 58 [...] continue reading the breaking news