ECB Cuts Rates to Record Low

In a move to help ailing eurozone economies, the European Central Bank on Thursday cut its benchmark interest rate to a record low of 0.5 percent, and raised prospects of a further rate cut, if needed.

The move by the European Central Bank was widely expected. Nonetheless, the ECB cut its key interest rate from 0.75 percent to 0.5 percent.

Speaking at a press conference in Bratislava, ECB President Mario Draghi said the cut could help turn around the ailing fortunes of the 17-member euro …

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