ECB cuts key rate to new low to help economy
World News • 7/05/12 5:37:13 am • Views: 1,120
The European Central Bank has cut its key interest rate by a quarter percentage point to a record low of 0.75 percent to boost a eurozone economy weighed down by the continent’s crisis over too much government debt.
The move followed a rate cut by China’s central bank and new stimulus measures by the Bank of England as global financial authorities seek to shore up a slowing global economy.