European Central Bank stands fast on rates but remains ready to act

02/6/2014 | Reuters

The European Central Bank said it is bracing for possible repercussions from emerging-market turmoil and may act in March but for now is holding interest rates unchanged. "Developments in global money and financial market conditions and related uncertainties, notably in the emerging-market economies, may have the potential to negatively affect economic conditions," ECB President Mario Draghi said, adding that "the reason for today's decision not to act has really to do with the complexity of the situation ... and the need to acquire more information."

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