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Business

European Central Bank Holds Interest Rate

Unswayed by its Washington counterpart's decision to cut interest rates a day earlier, the European Central Bank left key interest rates as they were at its regular monthly meeting on Thursday. The U.S. Federal Reserve on Wednesday reduced its prime lending rate by 50 basis points to 1.25 percent, the lowest rate in 41 years. The ECB announcement followed the Bank of England's decision earlier Thursday also to leave the central bank's main lending rate unchanged at 4.0 percent for the 12th month in a row.