ECB keeps rates at 4.75%

EUROPE - The European Central Bank maintained interest rates at 4.75% at its Governing Council meeting on Mar 29, 2001, refusing to follow recent rates cuts of the Federal Reserve and Bank of Japan.

Economists have argued over whether the ECB would keep its main rate steady at 4.75%, saying if a rate cut didn't come on Mar 29, 2001 it would likely come in two weeks when the central bank's policy council meets next. The euro fell on the decision to 88.25 U.S. cents, its lowest level so far in 2

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