ECB trims interest rate to 2.5 pct after Bank of England, Swedish Riksbank cut to 2 pct
Europe's central banks slashed borrowing costs aggressively Thursday to try and ward off a long recession triggered by the financial crisis. Their rate cuts tried to counter a slowdown that looks longer and deeper than initially feared — but they are getting close to the limit on how low they can go. The European Central Bank cut its interest rate by the biggest amount in ten years, the Bank of England dropped to the lowest level since 1951 and Sweden's Riksbank made a new... Full Story
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