Spanish interest rates held at 4%.

December 8, 2007

The European Central Bank has decided to leave the price of money unchanged until financial markets stabilise. At a meeting of the European Central Bank (ECB), it decided to put interest rates on hold at 4%, as was predicted by the experts. Out of the 50 analysts interviewed by the Dow Jones Agency, a large majority expected that the price of money would remain unchanged this month at 4%, while a few thought that it would rise slightly to 4.25%. Tensions in the money market and uncertainly over how a rise would affect the economy made the bank’s Governing Council leave the rates unchanged. Stock prices fell sharply by 1.27% on the Spanish stock market as it failed to take into account the strong possibility of Eurozone interest rates remaining unchanged, a trend which was echoed by other European stock markets. For an extensive choice of new and off plan property for sale in Spain on the Costa Blanca and Costa Calida, visit the Novocasa website.