ECB cuts interest rate by 0.5 percent

After a two-day meeting, the governing council of the European Central Bank (ECB) decided Thursday (15 January) to cut interest rates for the eurozone by 0.5 percent, bringing the current interest rate for the area to just 2 percent.

This is the lowest interest rate level in the history of the monetary union, which recently celebrated its 10-year anniversary.

In an interview with this website, senior economist at ING Peter Vanden Houte said this latest cut was not a foregone con...