European Central Bank reduces interest rate to record low

Brussels : Belgium | Jul 06, 2012 at 2:58 PM PDT

By northsunm32

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The European Central Bank has cut its interest rate to .75 per cent a record low. This was in line with expectations as the Bank tries to stimulate the economy by lowering rates. The rate paid on money other banks place in the central bank overnight has been reduced from .25 per cent to zero!
The Bank of England approved an injection of 78.1 billion U.S. into the UK economy. The bank kept the interest rate at .5 per cent. Up to now the Bank has injected 325 billion pounds into the economy through quantitative easing.
The UK treasury is also providing a support program designed to allow banks to provide cheaper loans. China also has been taking measures to stimulate its economy as growth slows there. For more see this article.

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Russia's Central Bank has been progressively cutting interest rates since April

northsunm32 is based in Brandon, Manitoba, Canada, and is an Anchor for Allvoices.

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Russia's Central Bank has been progressively cutting interest rates since ...
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