The European Central Bank cut interest rates to a record low on Thursday in an attempt to arrest a slump in inflation that has threatened to stall the eurozone's fragile economic recovery.
The ECB's 23-man Governing Council cut the bank's headline interest rate to 0.25 percent and its emergency borrowing rate to 0.75 percent, both a 0.25 percent cut. However, the interest rate on the bank's deposit facility remains at zero.
The surprise move comes after inflation across the euro...
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Already a member? Login hereBenjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.
Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.