European Central Bank cuts interest rates to record highs
Inflation in the eurozone slowed to 0.3% last month, below the ECB’s target of just under 2%, increasing the outlook for deflation.
This reduction is another sign of the ECB’s concern over the weak economic outlook for the euro zone.
In June, the interest rate was reduced from 0.25% to 0.15%.
Following the announcement, the euro fell to its 13-month low against the dollar and was trading at $ 1.3042.