Bloomberg News

Pound Stays Higher Versus Euro After ECB Holds Rates at 1%

February 09, 2012

Feb. 9 (Bloomberg) -- The pound stayed stronger against the euro after the European Central Bank held its key interest rate at 1 percent.

Sterling appreciated 0.4 percent to 83.50 pence per euro at 12:47 p.m. London time. It was 0.3 percent stronger at $1.5867.

ECB policy makers meeting in Frankfurt left the benchmark interest rate at a record low of 1 percent, as predicted by all but two of 57 economists in a Bloomberg News survey. At a press conference at 2:30 p.m., President Mario Draghi will be questioned on whether the ECB intends to use its Greek bonds to help the embattled nation reduce its debt.

To contact the editor responsible for this story: Mark McCord at mmccord2@bloomberg.net


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