CCTV.com - CNTV English - CCTV News

ECB cuts interest rates below 1% for 1st time

07-06-2012 10:13 BJT

Watch Video

Play Video

The European Central Bank has cut borrowing costs to a record low on Thursday as widely expected to support a deteriorating eurozone economy and to complement measures agreed by government leaders to tackle the debt crisis.

The central bank cut the deposit facility by 25 basis points to zero and lowered the main refinancing fixed rate to three-quarters percent. It’s the first time rates have been below one percent, and follows a cut in November 2011.

Analysts say the ECB is immense under pressure from investors, and even the International Monetary Fund to take bolder measures. Previously, IMF chief Christine Lagarde urged the bank to resume its purchases of government bonds, but analysts say that’s unlikely.

Economic indicators released earlier suggest even Germany, the eurozone’s powerhouse economy, is entering a modest downturn and investors want the ECB to take action before the situation worsens.

 

 

Editor:Zhang Rui |Source: CNTV.CN

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program