The European Central Bank has cut its key refinancing interest rate by 25 basis points, or 0.25%, to...
The European Central Bank has cut its key refinancing interest rate by 25 basis points, or 0.25%, to 2.5% in a bid to stave off poor economic growth in the eurozone countries.
The bank cut the same amount from its marginal lending rate, which now stands at 3.5%.
Many of France and Germany's biggest companies had hoped for bigger cuts because inflation has been coming down in the eurozone even as the currency has gained strength against the US dollar.
The currency appreciation is making it harder to export goods and services, leading to even lower earnings and profit growth they argue.
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