Eurozone interest rates cut to 1% - Democratic Underground

dipsydoodle

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Thu May-07-09 08:40 AM
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Eurozone interest rates cut to 1%

Source: BBC News

The European Central Bank (ECB) has cut interest rates in the eurozone to a record low of 1%, down from 1.25%.

The central bank also agreed a plan to pump about 60bn euros (£53.5bn; $80.6bn) into the eurozone economy by buying up debt.

The move follows similar steps by the ECB's UK and US counterparts and is commonly known as quantitative easing.

Read more: http://news.bbc.co.uk/1/hi/business/8037523.stm

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msongs

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Thu May-07-09 08:53 AM
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1. people who save their money get screwed once again, then have to bail out the criminals nt

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