Euro Zone

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The refinancing rate in the Eurozone was held steady at 4% in September, in line with decisions by monetary authorities in most major economies.  This was to counter the jitters caused by the subprime debacle.  This was in an environment, where, just weeks before the 6 September meeting of the European Central Bank (ECB), most economists had been predicting a 25 basis point rise. Not only the subprime market can be blamed, however; »»