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The Guardian - UK
The Guardian - UK
Business
Phillip Inman

ECB cuts interest rates to 2% in effort to bolster flagging eurozone growth

The European Central Bank building at dusk
The ECB headquarters (right) in Frankfurt, Germany. Photograph: Michael Probst/AP

The European Central Bank has cut interest rates to 2% in an effort to boost flagging economic growth across the eurozone.

The ECB, making its eighth quarter-point cut in a year, said the 20-member currency bloc needed a reduction in the cost of borrowing as it reeled from the damage caused by Donald Trump’s trade wars.

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