ECB reduced key interst rate to record low of 0.75%

Note: This section contains information in English only.
Source: BBC
As the European economy is still in the recession, the ECB cut its core interest rate to 0.75% from 1%, the lowest rate in the Eurozone's history. Moreover, the bank decreased the deposit yield to 0% from 0.25% to encourage the lending among banks. Meanwhile Mario Draghi, ECB president, announced that the Eurozone's economy is expected to grow slightly or post no growth in Q2, but the region may start to recover next year.




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Fri, 06 Jul 2012 08:21:43 GMT

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