European Central Bank cuts its benchmark interest rate
Article Abstract:
The European Central Bank refinancing rate decreased from 3% to 2.5% for the eurozone's 11 members. Bank president Wim Duisenberg explained that the reduction will spur economic growth for the region, which was affected by financial and economic problems experienced by Japan, Asia, Russia and Latin America. A related marginal lending facility rate reduction was also established for ECB commercial bank borrowers to 3.5% from 4.5%.
Publication Name: World Trade
Subject: Business, international
ISSN: 1054-8637
Year: 1999
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Next: The United States of Europe
Article Abstract:
Brief information is given on topics focused in Europe. Germany's Gerhard Schroeder wants the European Union to be run under one office which has raised some controversy.
Publication Name: World Trade
Subject: Business, international
ISSN: 1054-8637
Year: 2001
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