08-11-2013, 09:34 AM
ECB cuts rates to all-time low in surprise move
FRANKFURT — The European Central Bank (ECB) cut its key interest rates to record lows in a surprise move yesterday, driving regional stocks to five-year highs as it responded to a slump in the eurozone’s inflation that had sparked fears that the regional recovery could stall.
The ECB cut its main refinancing rate by 25 basis points to a new low of 0.25 per cent. It cut its marginal lending facility — or emergency borrowing rate — to 0.75 per cent from 1 per cent and held the rate it pays on bank deposits at 0 per cent.
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http://www.todayonline.com/business/ecb-...prise-move
FRANKFURT — The European Central Bank (ECB) cut its key interest rates to record lows in a surprise move yesterday, driving regional stocks to five-year highs as it responded to a slump in the eurozone’s inflation that had sparked fears that the regional recovery could stall.
The ECB cut its main refinancing rate by 25 basis points to a new low of 0.25 per cent. It cut its marginal lending facility — or emergency borrowing rate — to 0.75 per cent from 1 per cent and held the rate it pays on bank deposits at 0 per cent.
...
http://www.todayonline.com/business/ecb-...prise-move