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ECB Moves To Stem Recession
By Jana Randow |
March 6, 2009, Friday
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Print Edition
Print Edition
THE European Central Bank cut interest rates to a record low in an attempt to stem the worst recession since World War II.
Officials in Frankfurt reduced the benchmark lending rate by half a percentage point to 1.5 percent, as forecast by all 55 economists in a Bloomberg News survey. That's the lowest since the ECB took control of monetary policy in 1999.
Officials in Frankfurt reduced the benchmark lending rate by half a percentage point to 1.5 percent, as forecast by all 55 economists in a Bloomberg News survey. That's the lowest since the ECB took control of monetary policy in 1999.
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