European Central Bank lowers rate to 0.25%

The European Central Bank has lowered its benchmark interest rate to 0.25% from 0.5% - a new record low.

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Euro interest rate at record low

The European Central Bank has taken investors by surprise by cutting interest rates in the eurozone from 0.5% to 0.25% - a record low. But the Bank of England kept theirs at 0.5%.