The ECB cuts interest rates to a record low

On the 4^th of June,  in the ECB cut its rates of interest to record-low level. The ECB reduced the key interest rate from 1% to 0.75%. Marginal lending rate also was decreased from 1.75% to 1.5%, whereas overnight deposits rate was cut to  zero.The bank attributed the move to weakening economic situation in the area. The reduction followed easing measures by the central banks across Europe. On Thursday, the BoE announced it will inject GBP50 billion as a part of its asset-purchasing programme.