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            European Central Bank Cuts Interest Rates to Record Low

   by VOA News

   The European Central Bank has cut interest rates, in a bid to boost a
   weak economic recovery.

   The ECB lowered its benchmark interest rate to 0.05 percent from a
   previous record low of 0.15 percent. The bank also cut its deposit rate
   -- what banks pay the central bank for their deposits.

   The ECB also announced a new stimulus program for buying financial
   assets, to pump further life into the continent's economy.

   The aim is to make credit cheaper at a time when concerns are growing
   that the economy of the 18-country Eurozone might go into reverse.
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   [1]http://www.voanews.com/content/ecb-cuts-interest-rates-to-record-low
   /2438561.html

References

   1. http://www.voanews.com/content/ecb-cuts-interest-rates-to-record-low/2438561.html