ECB Rate Stays at 1%

The  European Central Bank (ECB) has left its benchmark interest rate unchanged at 1% again today.  It has been at 1% since November 2011

The ECB’s president, Mario Draghi, has insisted that its various measures to flood financial markets with cheap cash have been an “unquestioned success”.

The ECB met in Barcelona where  an 8,000-strong security force was deployed  for the meeting and the authorities temporarily reintroduced border controls to prevent the entry of potential trouble-makers. There were no signs of trouble outside the meeting venue, however, where a only a small handful of banner-wielding protesters could be seen.