ECB needs more information before deciding on rate rise (The Irish Times)

04 November 2011

The European Central Bank said yesterday that it needs more information on the economic impact of credit market turmoil before deciding whether to raise interest rates again.

The ECB stepped back from plans to raise rates in September after defaults on US subprime mortgages pushed up global credit costs and disturbed financial markets.

The bank left its main lending rate at 4 per cent last week.