On 6 October, the governing council of the European Central Bank (ECB) decided to keep its main interest rate unchanged at 1.5%, despite the fact that September inflation climbed to 3%. The ECB has set the limit of inflation at 2% in order to take action and presumably increase interest rates when this limit is surpassed.

Nowadays, however, with the Eurozone banks needing both liquidity and capital no wonder ECB had avoided raising the cost of money, despite the eminent threat for...

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