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European Central Bank Cuts Interest Rates
The European Central Bank has lowered its benchmark interest rate for the first time in 10 months with a 0.25-point reduction to 0.50%.
ECB President Mario Draghi says the rate cut should help the region's economy recovery later this year.
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The European Central Bank has lowered its benchmark interest rate for the first time in 10 months with a 0.25-point reduction to 0.50%.
ECB President Mario Draghi says the rate cut should help the region's economy recovery later this year. But if that doesn't happen, he adds, the central bank stands ready to lower interest rates even further to stimulate growth.
The ECB also pledges to continue providing low-interest loans to eurozone banks until at least July 2014.
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