The European Central Bank cut its main interest rate for the eurozone by 0.5 percent on Thursday (5 March), bringing the current rate to just 1.5 percent, an historic low since the euro's creation in 1999.
"Inflation rates have decreased significantly and will be below two percent in 2009 and 2010," said ECB president Jean-Claude Trichet adding that the chief causes were falling commodity prices and reduced consumer demand.
Maintaining interest rates "below, but close to two perc...
Back our independent journalism by becoming a supporting member
Already a member? Login here