S&P 500
7,226.20
+0.01%
Dow Jones
49,494.60
-0.62%
Nasdaq 100
27,685.40
+0.66%
Russell 2000
2,804.78
-0.02%
FTSE 100
10,364.50
0.00%
Nikkei 225
59,260.50
-0.78%

Economy

ECB Holds Interest Rates Low As Recession Lingers

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

The European Central Bank announced that it would keep its keep rates low, in the face of one of the worst recessions in the region’s history. GDP is falling in most countries. Unemployment in the Euro ares stands at 12.5%–a record. And, that rate is much higher in crippled nations which include Spain, and among people under 25.

The ECB announced:

At today’s meeting the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.50%, 1.00% and 0.00% respectively.

ECB President Mario Draghi said, in a press conference that risks to the area’s economy remain that GDP could contract further, and that the ECB will do what is necessary to aid the region as its troubles persist

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

Draghi and ECB to the Rescue, With More Hints of Easing Ahead
Jon C. Ogg |

Draghi and ECB to the Rescue, With More Hints of Easing Ahead

European Central Bank president Mario Draghi has signaled that the ECB is ready to do more monetary easing measures to…
ECB Tapering of Quantitative Easing Outlined for 2017
Jon C. Ogg |

ECB Tapering of Quantitative Easing Outlined for 2017

President Draghi announced on Thursday that the European Central Bank was going to extend its purchases of assets in 2017…
European Central Bank Plays Three-Card Monte on Quantitative Easing
Jon C. Ogg |

European Central Bank Plays Three-Card Monte on Quantitative Easing

The European Central Bank pledged on Thursday to cut its large program of bond buying. On the surface that sounds…
Jon C. Ogg |

Sempra’s Cameron LNG Export Project Scores Another Approval

Sempra Energy announced that its subsidiary, Cameron LNG, has received authorization from the Federal Energy Regulatory Commission to site, construct…
Jon C. Ogg |

European Central Bank Sits on Its Hands

The European Central Bank may have found that it has its back up against the wall. So what is the…
When 3 Central Banks Cut Interest Rates in a Single Day
Jon C. Ogg |

When 3 Central Banks Cut Interest Rates in a Single Day

When economies struggle, the classic textbook move to stabilize and help a recovery is for a nation's central bank to…
The Question the Fed Did Not Answer When It Cut Rates
Paul Ausick |

The Question the Fed Did Not Answer When It Cut Rates

Along with Wednesday's announcement of cut to the fed funds rate, Fed Chair Jerome Powell also committed to injecting cash…
Mario Draghi Drops a Slowing European Growth Bomb on Markets
Jon C. Ogg |

Mario Draghi Drops a Slowing European Growth Bomb on Markets

The European Central Bank has announced that its interest rate on the main refinancing operations and the interest rates on…
5 Stocks With Recent Dividend Hikes Amid Market Volatility
247patrick |

5 Stocks With Recent Dividend Hikes Amid Market Volatility

An astute investor should focus on stocks that have recently increased their dividend payouts.

Top Gaining Stocks

Cboe Global Markets
CBOE • Vol: 1,568,143
New Pluto Global
PSKY • Vol: 12,285,993
Seagate Technology
STX • Vol: 7,378,346
Oracle
ORCL • Vol: 26,317,675
Datadog
DDOG • Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ • Vol: 4,367,433
Clorox
CLX • Vol: 13,260,523
Stryker
SYK • Vol: 4,519,455
Mohawk Industries
MHK • Vol: 1,859,865
Amgen
AMGN • Vol: 3,818,618