Thu, 03 Nov 2011 17:00:29 GMT
ECB lowers interest rates
European Central Bank (ECB) has unpredictably lowered the interest rate
from 1.5% to 1.25%. According to ECB president Mario Draghi, several
predictions regarding economic growth in 2012 have been revised downwards and
therefore initiated interest rate cut. Draghi characterized eurozone as a highly uncertain
economic environment facing many challenges that can hinder economic growth.