The governing council of the European Central Bank has decided to leave its current interest rates unchanged. The ECB said its benchmark financing rate would remain at zero percent. The ECB’s governing council has tasked some committees to examine ways to avoid running out of bonds to buy. Its own rules prevent the bank from purchasing bonds with a yield below the rate of interest it pays on deposits, currently -0.4 percent. ECB governors looked likely to put off any stimulus decisions until their December meeting, with several potential upsets on the calendar next month.

Source: Daily News Egypt October 20, 2016 12:56 UTC