SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 27 Sep, 2014  

Europe.Thmb.jpg European Central Bank cuts benckmark rate

Euro.500.9.jpg
   Top Stories
» 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
» 'India ranks 3rd in global startup ecosystem & number of unicorns'
» Tripura exported over 9K tonnes of pineapples in 2 years
» CPI inflation eases to 6.71% in July, IIP falls to 12.3%
» Rupee depreciates 12 paise to close at 79.64 against US dollar
IANS/EFE | 03 May, 2013
The European Central Bank Thursday cut its benchmark interest rate to a record low of 0.50 percent in an effort to boost economic growth in the Eurozone.

The ECB, whose Governing Council is meeting in Bratislava, also cut the interest rate on its marginal lending facility, the amount it charges for one-day loans, by 0.50 percent to 1 percent.

The central bank left the interest rate on its deposit facility at 0 percent.

Financial markets and most analysts expected the ECB to cut the benchmark rate to spur lending and stimulate the weak Eurozone economy.

Some analysts, however, questioned whether a rate cut would do anything to expand lending to small- and mid-sized businesses in the Eurozone's peripheral countries.

Access to credit by small- and mid-sized businesses varies greatly among the different countries in the Eurozone, a recent ECB survey found.

Central banks around the world have been pumping liquidity into their economies in an effort to ramp up growth in the wake of the worst economic downturn since the Great Depression.

The US Federal Reserve has kept short-term interest rates near zero and implemented an aggressive monetary stimulus program pegged to unemployment and inflation targets.

The Bank of Japan has embarked on a program of monetary easing and additional bond purchases to push down interest rates and spark consumer spending. 
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
PM Modi's recent US visit to redefine India-US bilateral relations
 Yes
 No
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter