January 9, 2014

The uneven economic recovery in Europe is leaving central bankers with very different challenges.

The European Central Bank is facing calls for more action to stimulate activity, while the Bank of England tries to figure out how to react to a recovery that is racing forward.

Both central banks kept interest rates unchanged Thursday.

Neither was expected to make a move but the ECB made clear it may have more work to do. It cut rates to a record low of 0.25% in November, alarmed by a sharp fall in inflation and the risk that the eurozone recovery could be derailed before it started.

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