BUSINESS BRIEFING / INTERNATIONAL
Times Wire Reports
The European Central Bank and the Bank of England both kept official interest rates at record lows, adopting a cautious holding stance amid fledgling signs of an economic recovery across Europe.
Both banks warned against celebrating the end of the recession too early, with the ECB lowering its growth forecast for next year.
The ECB provided more details on its plans to pump 60 billion euros ($85 billion) into the banking system, while the Bank of England reiterated its commitment to inject 125 billion pounds ($205 billion) into the economy.
