EU December ECB Interest Rate unchanged at 0.25%

The phrase ‘responsible recovery’ was launched early in his speech, a jibe made at the expense of his Labour Party opponents who sat in power during the financial crisis. He added that OBR reassessments of the recession following the financial crisis meant that the economy had shrunk 7.2%, rather than the 6.3% previously estimated. Nevertheless, forecasts show that growth is up, but still slow.