European Central Bank cuts benchmark interest rate by 0.25% to 1.00%; Bank of England keeps rate at 1694-year low
Dec 8th, 2011 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The European Central Bank as expected today cut its benchmark interest rate by 0.25% to 1.00% at the meeting of the 23-member governing council in Frankfurt. In London, in response to evidence of a fragile economy, the Bank of England's Monetary Policy Committee kept the bank's key interest rate at the 1694-year low of 0.5%.