ECB moves for the fourth time this year, Draghi acts to spur growth


As expected, the European Central Bank responded to mounting market pressure and speculation of a rate cut this meeting as Mario Draghi, the European Central Bank new President acted to spur growth and revive the recovery, especially when the escalating debt crisis threatens now the monetary union itself. The Governing Council voted to cut key interest rates by 25 bp to 1.00% from 1.25%, and also voted to lower the marginal lending facility to 1.75% from 2.00%, in the time the deposit facility

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