While the Reserve Bank of Australia has been cutting its interest rate owing to the European crisis, Europe does not hasten with such actions.
As expected by the most analysts, the European Central Bank is to leave its interest rate at the previous level of 1%.
Due to the ongoing uncertainty the Central bank decided not to take cardinal measures. In June Europe is to see parliament elections in France and Greece. The analysts predict a probable rate lowering next July.
At the next press-conference the Bank Chairman Mario Draghi noted an extremely low-paced economic motion, and the growth forecasts were not changed.
The initial findings provided by the Eurostat statistics agency confirmed that the region is in stagnation. The quarterly growth of economy is at a zero level, while the annual growth of economy has gone negative - to -0.1%.
Today the market expects the interest rate decision of the Bank of England. The British rate is most likely to remain the same at 0.5%, as well as the asset purchase program amounting to 325 billion pounds.