Berlin, Jul 9. -European economic recovery will be moderate and uneven due to the crisis hitting Europe, said President of the European Central Bank (ECB) Jean-Claude Trichet.
Speaking to the press, Trichet predicted a moderate growth rate marked by uncertainty.
Trichet said that the process to boost economic activity will be limited, especially because of the difficult labor market situation and the balance of payment problems in various sectors.
Trichet issued statements after the ECB had announced its decision to keep the base interest rate at one percent in the Euro-zone, a record low since May last year.
ECB reported that credit facilities were maintained at a stable 1.75 percent.
Commerzbank analysts believe that ECB will keep interest rates unchanged at this level until the second half of 2011.
Analysts also predicted that the tensions in financial markets, particularly in money markets, will continue for some time because of the public debt crisis in the common currency area.