Euro Central Banks Slash Interest Rates

Bank of England drops rate to 2%, ECB to 2.5%, Sweden to 2%
By Jim O'Neill,  Newser User
Posted Dec 4, 2008 7:21 AM CST

(Newser) – The Bank of England cut interest rates a full 1% today to 2%, the lowest level since 1939, and the European Central Bank followed with a cut of 75 basis points, to 2.5%, the largest cut in its 10-year history, MarketWatch reports. Those moves came on the heels of a 175 basis point cut by the Swedish Central Bank—its largest cut ever—also to 2%, as economic woes continue to spur global money authorities to ratchet down rates. (Read more financial crisis stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.