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		Home Page Mortgage News You Can Use Iconocast SEM European Central Bank Keeps Rates Steady By DAVID McHUGH AP Business Writer FRANKFURT, Germany (AP) -- The European Central Bank kept interest rates steady Thursday and economists say it will likely keep them unchanged until late in the year unless a further steep drop by the dollar threatens Europe's budding recovery. The decision by the bank's 18-member governing council leaves the key refinancing rate at 2 percent, where it has been since the bank made a half-point cut in June. The ECB has signaled that rates will likely be on hold for months as it waits for the economies of the dozen countries using the euro to gain speed. Most economists think its next move will be to raise rates to prevent inflation as the economy heats up. Thirteen of 24 economists surveyed by Dow Jones Newswires this week predicted the bank would raise rates by year's end. Bank President Jean-Claude Trichet indicated the bank felt it was set for now, saying that current monetary policy was "appropriate," inflation was in check and a recovery appears to be taking hold.   Back to Original Article: Mortgage News You Can Use   Continue with: Thursday's World Gold Prices U.S. Productivity Grows at 2.7 Percent Annual Rate, Down From 9.5 Percent More borrowers tap into home equity U.S. productivity cools, jobless claims rise U.S. Treasuries, Thursday, Feb 5 House Backs Extended Jobless Benefits Mortgage Activity Drops US TREASURY OUTLOOK - Waiting for payrolls U.S. Treasury's Snow repeats deficits manageable Funds probe spreads to Alliance Capital 401k plans are getting even more scrutiny Fed's Bernanke sees low inflation, slow job growth
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