15 Jan 2010

Eurozone holds interest rates

9:49 am on 15 January 2010

The European Central Bank has kept eurozone interest rates on hold at a record low of 1% for the eighth month in a row.

The decision was widely expected by economists as Europe is still recovering from recession, the BBC reports.

But it follows positive data on the eurozone, with industrial production found to be growing twice as quickly as expected.

Interest rates have been at 1% since May 2009.