This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/8037523.stm
The article has changed 8 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Eurozone interest rates cut to 1% | Eurozone interest rates cut to 1% |
| (10 minutes later) | |
| The European Central Bank (ECB) has cut interest rates in the eurozone to a record low of 1%, down from 1.25%. | The European Central Bank (ECB) has cut interest rates in the eurozone to a record low of 1%, down from 1.25%. |
| It is the seventh time the ECB has lowered its key rate since October 2008, when it stood at 4.25%, as it tries to boost the eurozone economy. | It is the seventh time the ECB has lowered its key rate since October 2008, when it stood at 4.25%, as it tries to boost the eurozone economy. |
| Analysts do not expect the cost of borrowing to go much lower in the 16 countries that use the euro. | Analysts do not expect the cost of borrowing to go much lower in the 16 countries that use the euro. |
| However, the ECB may resort to using alternative measures to revive economic growth in the eurozone. | However, the ECB may resort to using alternative measures to revive economic growth in the eurozone. |
| ECB president Jean-Claude Trichet will hold a news conference later, where he is expected to detail any new steps the bank may take. | ECB president Jean-Claude Trichet will hold a news conference later, where he is expected to detail any new steps the bank may take. |
| "The rate decision was no surprise, but it is all about the language that will go with it," said Royal Bank of Scotland economist Jacques Cailloux. | |
| "The question is whether they will provide indication if the door remains open for further cuts or whether they close the door entirely." | |
| The ECB's decision followed the Bank of England's announcement that it would keep interest rates unchanged at 0.5% and pump an extra £50bn ($75.5bn; 56.5bn euros) into the UK economy by buying government and corporate debt. | The ECB's decision followed the Bank of England's announcement that it would keep interest rates unchanged at 0.5% and pump an extra £50bn ($75.5bn; 56.5bn euros) into the UK economy by buying government and corporate debt. |
| Central banks around the world are using more unconventional monetary policy methods to support their economies, with interest rates at record low levels. | Central banks around the world are using more unconventional monetary policy methods to support their economies, with interest rates at record low levels. |
| It is not clear whether the ECB is willing to follow its US and UK counterparts into directly buying up assets to get money flowing in the economy. |