ECB cuts key rate to new low to help economy
World News • July 2012 • Views: 1,340
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.