ECB is cutting its benchmark interest rate to two percent (16.01.2009) je 08

In its first policy meeting of the year, the European Central bank announced it was cutting its benchmark interest rate by Half- a percentage point, +++CO REIN+++ ...to 2-percent -- the lowest level in ECB history. This is the short term rate at which commercial banks can borrow money from the ECB. It's the fourth rate cut in just over 3- months. Our next report has more.