ECB cuts interest rates to historic low

The European Central Bank cut its main interest rate to a historic low on the 5 July 2012 amid signs that prospects for the eurozone economy were looking increasingly bleak.

Mario Draghi, ECB President, said policy makers had 'unanimously' decided to cut the central bank’s main policy rate by a quarter of a percentage point to 0.75%, pushing the rate under 1% for the first time.

EUObserver, 5.7.12: Draghi: ECB needs more democratic accountability http://euobserver.com/19/116885

BBC News, 5.7.12: ECB cuts eurozone rates to record low of 0.75% http://www.bbc.co.uk/news/business-18722911

Deutsche Welle, 5.7.12: ECB cuts interest rates to historic low http://www.dw.de/dw/article/0,,16074120,00.html

Spiegel Online International, 5.7.12: ECB Interest Rate Cut Inspires Little Hope http://www.spiegel.de/international/business/european-central-bank-rate-cut-not-likely-to-have-significant-effect-a-842801.html

ECB: Press Release, 5.7.12: Introductory statement to the press conference Mario Draghi, President of the ECB, Vítor Constâncio, Vice-President of the ECB, Frankfurt am Main, 5 July 2012 http://www.ecb.int/press/pressconf/2012/html/is120705.en.html

ECB: Press Release, 5.7.12: Monetary policy decisions http://www.ecb.int/press/pr/date/2012/html/pr120705.en.html

EurActiv, 6.7.12: Central banks move to jump-start economies http://www.euractiv.com/euro-finance/central-banks-move-jump-start-ec-news-513756

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