Published: Thursday, 8 Dec 2011 | 9:43 AM ET
http://www.cnbc.com/id/45594288
The European Central Bank cut interest rates by a quarter of a point on Thursday to counter the twin threats of recession and deflation in the euro zone, and announced further unorthodox measures in an effort to aid the functioning of financial markets.
http://www.cnbc.com/id/45594288
The European Central Bank cut interest rates by a quarter of a point on Thursday to counter the twin threats of recession and deflation in the euro zone, and announced further unorthodox measures in an effort to aid the functioning of financial markets.
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The central bank decided to
conduct two long-term refinancing operations at a fixed rate with a maturity of
36 months and to accept single-A rated asset-backed securities as collateral
among its non-standard measures to reduce market tension.
