The European Central Bank held its key rate at 4% Thursday, as had been widely expected. The ECB sets interest rates for the 13 countries that use the euro as their currency. Earlier Thursday, the Bank of England decided to cut its base rate by 0.25% to 5.5%, saying conditions in financial and credit markets have deteriorated, posing downside risks to economic output and inflation (full story). Trading in the euro was flat following the widely-anticipated release.
Seeking Alpha's news briefs are combined into a pre-market summary called Wall Street Breakfast. Get Wall Street Breakfast by email -- it's free and takes only seconds to sign up.