ECB Rate Cut to 1%

The  president of the ECB  has today announced a further cut in the  interest rate of 0.25% – down to  1%  .
It had been cut by the same amount in November

The  ECB president Mario Draghi said earlier this week : “We have observed serious credit tightening … which, combined with a weakening in the business cycle, does not bode at all well for the months to come.”