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    ECB holds interest rates, forecasts grim 2013

    euronews (in English)

    by euronews (in English)

    As expected, the European Central Bank kept its main interest rate unchanged on Thursday at a record low 0.75 percent for the fifth month running.

    The ECB also slashed its forecasts for the eurozone economy.

    Its experts believe a contraction is very likely next year before a return to growth in 2014.