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European Central Bank cuts interest rates to 1%

Tags: Market-Matters

Dec 09 2011

The European Central Bank has cut interest rates back to their historic low of 1% originally seen at the start of 2011. New ECB president Mario Drafhi has reversed the two rate rises, his predecessor, Jean-Claude Trichet, introduced this year.

The Eurozone has a population of 332 million, compared to the UK's 62 million. The jobless rate in the Eurozone is 10.3% compared to 8.3% in the UK.

9 December 2011

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European Central Bank cuts interest rates to 1%

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