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ECB drops basic rate to 1%

07 May 09 - RE+D Magazine
ECB drops basic rate to 1%

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The European Central Bank has decided to lower the eurozone basic rate by 25 basis points, to 1%, confirming the estimates expressed the past few days. The ECB basic rate has dropped by 425 basis points since October 2008, while in early 2009, the euribor was at 2.5%.

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