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European Central Bank keeps rates on hold
Athens: Ignoring inflation rates the European Central Bank (ECB) left its Eurozone interest rates unchanged at an Athens meeting Thursday.

Rates remain at a historic low of two per cent even though high oil prices are impacting inflation and economic growth in the
12-member Eurozone.

A growing number of analysts now believe that the bank may not increase rates till the middle of next year. The bank last changed rates in June 2003.

Inflation reached 2.5 per cent in September, the highest in Europe for a year.
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China opts for stability over growth
Beijing: China is unveiling a new roadmap and is likely to scrap a long-standing policy of faster growth in favour of improving social services and curbing widespread environmental devastation.

The Chinese Communist Party aims to redirect policy from growth for growth's sake to a more sustainable model that better addresses widespread inequities reflected in a widening gap between rich and poor and which threaten social stability.

The shift could have a far-reaching impact since China's rapid growth and integration into the global economy have transformed it from an economic backwater into a major influence on world trade.
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