04 December 2008 12:48 [Source: ICIS news]
LONDON (ICIS news)--The European Central Bank on Thursday lowered eurozone interest rates by 75 basis points to 2.5%, the largest cut in the bank’s ten-year history.
The cut follows reductions in the ?xml:namespace>
The region was declared in recession in November following a second quarterly contraction in GDP, with most analysts ruling out a revival in growth until the third quarter of next year.
The Bank of England earlier cut
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