Thursday 15 January 2009
ECB cut's interest rates
The European Central Bank has slashed interest rates by half a percentage point to 2% as it attempt to breathe some life back into the region's ailing economy. It iss the fourth cut by the ECB in as many months and brings the total reduction since then to 2.25 percentage points. The cut was widely predicted by economists, and followed the Bank of England's decision last week to reduce rates by half a percentage point to 1.5pc - the lowest ever level in the UK. Economists are predicting further rate cuts to follow in the eurozone.
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