ECB leaves interest rates on hold at 1%

The European Central Bank left official interest rates unchanged in February 2010 for a ninth consecutive month as the eurozone struggles to recover growth and reels from financial market worries over public finances across much of the region.

Amid rising investor nervousness about the risks faced by Spain, Portugal and Greece – where deficits have spiralled way above the eurozone average – ECB President Jean-Claude Trichet said it was of 'paramount importance' that individual countries had clear fiscal 'exit strategies' to bring spiralling deficits under control.

ECB: Press Release, 4.2.10: Monetary policy decisions http://www.ecb.int/press/pr/date/2010/html/pr100204.en.html

ECB: Press Release, 4.2.10: Press Conference: Introductory Statement http://www.ecb.int/press/pressconf/2010/html/is100204.en.html

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