ECB Says Economic Activity To Remain Weak In Eurozone

  @ibtimes on August 13 2009 8:22 AM

RTTNews - Thursday, the European Central Bank in its Monthly Bulletin said economic activity in the euro area over the remainder of this year is expected to remain weak. Looking ahead into next year, after a phase of stabilization, a gradual recovery with positive quarterly growth rates is expected, the latest bulletin for August revealed.

On August 6, the ECB had left its key interest rate, which is the interest rate on the main refinancing operations, untouched at record low of 1%. The bank has lowered the key interest rate by a total of three and a quarter percentage points since early October 2008.

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