7 Dec 2012

ECB rate held

12:53 pm on 7 December 2012

The European Central Bank has held its eurozone interest rate at a record low of 0.75%.

ECB President Mario Draghi said on Thursday the rates were left unchanged due to higher energy prices, rising taxes and the fact inflation fell from 2.5% to 2.2% last month.

Interest rates have been at 0.75% for five months, after being cut from 1% in July.