Fri, 06 Jul 2012 07:59:42 GMT
ECB reduced key interst rate to record low of 0.75%
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