European Central Bank cuts benchmark interest rate by 0.25% to 1.0%
May 7th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The European Central Bank Governing Council (ECB), meeting in Frankfurt, cut the ECB's benchmark rate by 0.25% today to 1.0%, in response to the Eurozone 's plunging economy. It is the lowest ECB rate, since the launch of the Euro in 1999.