ECB holds rates at 2% ahead of holiday

The European Central Bank met Thursday before its traditional August holiday and held its main interest rate steady at 2%. The ECB's governing council also said it endorsed the candidacy of Jean-Claude Trichet, governor of the Bank of France, to become its next president.

Source: Bloomberg

The European Central Bank left interest rates on hold at 2 per cent on Thursday following the bank's last meeting before its traditional August holiday.

The decision was widely expected by the market following