The European Central Bank has cut interest rates by a quarter percentage point under new head Mario Draghi to boost weakening growth in a eurozone struggling with a crisis over too much government debt. The move, which comes earlier than expected by many economists, takes the bank’s benchmark rate to 1.25 per cent.
European growth is expected to slow to near or below zero in the last three months of the year.
via European Central Bank makes surprise rate cut – World – CBC News.