ECB rate to 3.25 percent, BoE slashes rate to 3 percent as inflation ebbs, recession looms
The European Central Bank has cut its key rate by half a percentage point to 3.25 percent, joining the Bank of England, Swiss and Czech central banks as they confront the looming recession.The ECB announced the cut of half a percentage point from 3.75 percent on Thursday shortly after the Bank of England lowered its key interest rate by a startling 1.5 percentage points to 3 percent.
The Bank of England's cut was more than than the full percentage point that most analysts had predicted....
