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ECB cuts key interest rates

The European Central Bank has announced a 0.25 per cent cut in its main interest rate.

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The move – which was announced at a meeting of the ECB in Slovakia – brings rates to a historic low of 0.5 per cent.

It’s the first time the ECB has cut interest rates in 10 months and was widely expected after ECB President Mario Draghi said last month the bank stood ready to act.

 

 

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