ECB cuts the interest rate to 1%

Note: This section contains information in English only.
Source: Forexpros
© Scanpix/RS

The ECB decreased the key interest rate for the second month in line with the aim to boost the economic recovery of the area. The bank set the interest rate at all-times low of 1.0% down from 1.25% in the previous period. The move was expected by experts. Following the shift the, euro declined against the greenback with the EUR/USD pair trading at 1.3394, down by 0.13%.

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