05 July 2012 12:45 [Source: ICIS news]
LONDON (ICIS)--The European Central Bank (ECB) on Thursday cut interest rates to a record low of 0.75%, following six straight months at 1.0%.
The cut is expected to help the struggling eurozone and its banking industry.
After October 2008, when the level was at 4.25%, the bank cut its key rate several times as it tried to haul the eurozone economy out of deep recession.
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