European Central Bank expected to cut benchmark interest rate to 1% today; Trichet to announce position on new policy measures
May 7th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The Governing Council of the European Central Bank is expected to decide at its meeting in Frankfurt today to cut the benchmark interest rate from 1.25% to 1%. ECB President Jean-Claude Trichet will announce the Bank's position on likely new policy measures to deal with the Eurozone recession.