The European Central Bank has frozen eurozone interest rates at zero percent until a time when inflation reaches its target of 2 percent. It added it would keep its existing asset purchase program at some one-point-six trillion U.S. dollars. The ECB says the move is aimed at cushioning the impact of the second wave of COVID-19 that has forced lockdowns in Germany and France. ECB President Christine Lagarde explained the momentum was deteriorating faster than expected and the central bank would not hesitate to act.
