Monday

Keep ECB Interest Rate, And Ready to Make Loans Marginal

The European Central Bank warned of Latvia, which is a candidate member of the European Zone area to keep long-term rates, where inflation is currently at a low level. 
In a progress report on economic and law, 2013, Latvia was in the path to the euro zone members. However, the ECB highlights the sustainability of inflation convergence.

This report will be a major focus at the European Parliament, and euro zone finance ministers decided on July 9, whether Latvia can join the single currency or not.If the decision is positive, Latvia will be a member of the euro zone into 18th on January 1, 2014, following neighboring Estonia joined in 2012. 


The ECB said inflation Latvia meets the criteria for joining the single currency, with an average inflation rate at 12 months was 1.3 per cent between May 2012 and April 2013.

While recent reports indicate, the European Central Bank kept its benchmark rate ended at a record low in June, in an effort to encourage growth in the region, according to a report on Thursday (06/06/2013). 
The ECB said it was maintaining the benchmark interest rate at a record low of 0.5%, in line with market expectations, following a cut of 0.25% at a previous meeting. The central bank will also hold at 1% marginal lending facility and the deposit left unchanged at 0.0%.

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