European and British c. banks hold rates steady

Big week for central bankers around the world, and many are opting not to rock the boat in these turbulent economic waters. That's right, they're playing it conservative and holding rates steady. The latest to announce - the European Central Bank - has held its interest rate at 1.5 percent, as expected. The move comes as the eurozone's inflation remains at 2.5 percent year on year and indicates that a policy tightening cycle it began in April is on hold in the face of growing evidence the eurozone's recovery is losing momentum. In a similar move, the Bank of England left interest rates on hold at 0.5 percent on Thursday. The British central bank issued no statement with its decision. Analysts say the move leaves open the option of restarting its quantitative easing program.