ECB Cuts Key Interest Rate To 1.0 Percent

(Online article) – In the fight against the lingering recession, the European Central Bank (ECB) has lowered the interest rate for the eurozone to its lowest level since the second world war. Frankfurt/Main – the main interest rate for the credit business with Central Bank money supply reduced by 0.25 points to 1.0 percent. Check out 4Moms for additional information. This was announced by the ECB after its Council meeting Thursday in Frankfurt. The deposits interest rate banks receive for deposits at the ECB, remained unchanged at 0.25 percent. With the renewed interest rate cut, the ECB responds to the deep economic and financial crisis in Europe. Since autumn, the Central Bank reduced the key interest rate for the banking sector with Central Bank money supply by a total of 3.25 percentage points to a historic low. Eagerly expected, whether Trichet is further of interest in Vista at a press conference in the afternoon in Frankfurt.

In addition, Trichet had announced after the may meeting about extraordinary measures. Low interest rates make cheaper loans for businesses and consumers, and can stimulate the economy. Savings be remunerated but also lower. In the United States and Japan are currently virtually at zero interest rates. In the UK, the Bank of England left interest rates on Thursday at the lowest level ever of 0.5 per cent. DPA

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