Author: 123jump.com Staff
123jump.com
Last Update: 1:15 PM EST February 07 2008


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The ECB President Jean Claude Trichet cited rising inflation in the region and global market weakness and left the rates unchanged at 4%. The Bank of England lowered its rate by 0.25% to 5.25% on the weakening UK economy, declining housing market, and falling retail sales. Trichet in the accompanying statement said that corporate borrowing remains robust and there appears to be no credit impairment to coroporate borrowers from the current ongoing financial market turmoil.