The European Central Bank held interest rates at a record low on Thursday and is expected to keep its liquidity safety-net for banks in place.

The European Central Bank left its benchmark interest rate unchanged at a record low of 1 percent for the 14th consecutive month on Thursday.

Emerging countries have a great role in boosting the world economy despite the global crisis, U.S. Federal Reserve Chairman Ben Bernanke and European Central Bank President Jean-Claude Trichet said Monday.

On Friday, the euro pared the gains it made in Asian deals against other major currencies in the European session. The euro thus eased from a 1-month high against the pound, 8-day high against the dollar, more than 2-month high against the franc and a 3-day high against the yen.

The European Central Bank (ECB) announced their interest rates, leaving them unchanged at the historical low of 1 percent, which in turn edged metals higher and the Euro lower.

The European Central Bank on Thursday said its Governing Council left the key lending rate unchanged at a historic low of 1%. The decision was expected. The ECB withholds further rate reductions as growth remains crippled, while inflation rates are still below the bank’s set target rates of 2% in the 16-nation region.

After going through this intensive week, it’s important to highlight the major events that have marked it. As spotting those important marks will guide us through the coming weeks till the end of the month.
First traders have a lot to be enthusiastic about after seeing the DJIA closing above 10,000 for two consecutive sessions this week.

The euro zone is scheduled to release its trade balance indicator. Expectations are for the trade surplus will narrow and this is most likely because of lower exports as a result of the weak demand and higher euro.

Europe’s two leading central banks are expected to keep interest rates unchanged Thursday and damp down any talk that borrowing costs will soon rise in the wake of a surprise rate hike by Australia’s central bank to lift rates.

The dollar fell against the Japanese yen recording a low of 89.65 and a high of 90.40. A report today showed that Japan’s industrial production rebounded in August that helped the yen to rally against major currencies. The pair is having a support at 89.15 along with a resistance at 90.45. Also, the dollar fell on speculation a Federal Reserve official will reiterate today that record-low interest rates will be unchanged for an extended period. As with the global economy quite weak and inflation low a raise in US interest …