Friday, December 12, 2008

Interest Rates Cut to 2.5%

As expected, the European Central Bank has reduced interest rates by threequarters
of a percentage point to 2.5 per cent.
Prior to the announcement, some analysts were predicting an even bigger cut of
1 per cent.
This latest cut in interest rates by the ECB is the third in as many months, from a high of 4.25 per cent in September.
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