European Central Bank Cuts Interest Rates
Published / Last Updated on 02/11/2011
European Central Bank Cuts Interest Rates.
The European Central Bank (ECB) has cut eurozone interest rates by 0.25% to 1.25%. According to the new ECB president Mario Draghi, growth in the eurozone was likely to remain weak.
Mr Draghi believes that inflation in the eurozone, currently 3%, would remain at "elevated" levels for some months, driven by higher energy and commodity prices.