Finland Times

The Euro logo is seen in front of the European Central Bank (ECB) building prior to the meeting of the Governing Council in Frankfurt am Main, central Germany, on July 4, 2013. The European Central Bank pledged to keep its interest rates at their current record low levels for an "extended period" or even cut them further in order to support the ailing eurozone economy. Photo Lehtikuva

The European Central Bank has decided to keep the financial market interest rate unchanged at 0.50 per cent, news agency STT reported quoting AFP and Reuters.

 

The ECB cut its main monetary policy rate to historically low market two months ago. 

The decision regarding interest rate was in line with market expectations. 

 

Central bank governor Mario Draghi's press conference is expected to reassure markets, which begins at half past three Finnish time. 

Investors are worried about the situation in Portugal. The Portuguese Minister of Economy and Foreign Minister announced his resignation earlier this week to the savings resulting from the program due to disagreements. After Portugal's ten-year bond, interest rates began to rise and went yesterday for more than by eight per cent. In the morning, the Portuguese interest rates began to fall, but began to rise again in the afternoon. 

Also, the Bank of England decided Thursday to keep policy rate to 0.50 per cent.

 

Country's central bank held its first meeting with the new Executive Director Mark Carney in the chair.